LNG

A few spot fixtures from the end of the previous week into the start of the new one did little to raise hopes that rates would rise. There was enquiry from both the Mediterranean and North Africa, as well as several pieces originating in the Atlantic. The Pacific basin was understandably quiet with several countries going on national holiday and the overall bearishness of the market. The delta between TFDE and 2-Stroke ships has begun to expand but remains tight around $13,000 PD.

For BLNG1 Aus-Japan the 174cbm index lost $420 to a finish of $46,560 versus the 160cbm at $33,917 (a drop of $502). BLNG2 Houston-Cont lost value for both ships with the 174cbm finishing down $1,189 at $43,598, while the 160cbm saw $509 fall to a close of $32,239. Meanwhile, the BLNG3 Houston-Japan moved little as well closing at $49,398 and $37,658 for the 174cbm and 160cbm respectively.

Period remained of interest though the six-month charter rates were unchanged at $74,600, with the one-year and three-year ticked up to $79,500 and $83,100, respectively.

 

LPG

The Middle East Gulf market remains largely quiet but has been bolstered by a flurry of fixing from North Africa and Australia. With ships being taken out, and others looking more to the West for employment the tonnage is evenly matched against enquiry and rates should be stable for the time being brokers report. The BLPG1 Ras Tanura-Chiba rose by $7.429 to a close of $68.429 and a daily TCE earning of $48,734.

The market across the Atlantic was a little more subdued, as mentioned in last week’s report ships were already fixing for June dates and this break in cargo availability is slowing down any hopes owners had of pushing rates higher. BLPG2 was very flat, and Houston-Flushing rose only $1 this week to a close of $71 and a daily TCE earning of $73,427. BLPG3 Houston-Chiba moved up by $2.857 and a final price of $131.571 gave a TCE earning of $58,984.