LNG

There was no hangover from Posidonia in the LNG shipping community, when everyone got back to their seats it was business as usual, the LNG spot market has continued its uptick in spot rates with both ships across all three routes seeing positive movement. There wasn’t a flood of reported fixtures, and indeed as any enquiry came out there were a surprising number of modern ships able to work them. This though hasn’t hampered any gains and in the Atlantic specifically we have seen a decent rise.

BLNG1 Australia to Japan on the 174cbm rose by $2900, to a close of $51,500 with a rise of $4820 on the 160cbm and a close of $39,800 as the delta narrowed ever so slightly. BLNG2 Houston to Continent shot up on the 174cbm rising by $8,011 per day to $64,400 widening the delta between the 160cbm which finished up $5,498 at $49,100. BLNG3 Houston-Japan saw rises between $6,000-$6,800 and the 174cbm finished at $71,815 pulling away from the TFDE ship at $57,100.

Period remains a point of interest and the 6-month finished up $3,300 to $98,300 while the 1-year term faltered slightly publishing down $450 to $84,150. The 3-year terms remain steady rising only $600 to $84,400.

 

LPG

Some significant correction in the LPG market this week both in the MEG and across the Atlantic. In the MEG BLPG1 suffered one of the biggest falls this year losing $16.572 from a mid-week high to a final close of $64,571, and a daily TCE earning equivalent of $45,631. A tightening of the ARB and a plethora of ships available against very thin cargo enquiry has put owners on the back foot and those who are offering in are doing so considerably less than last time. Not much news to abate any further fall yet though brokers expect a stall in movement either direction.

For the BLPG2 and BLPG3 there was a similar story to that of BLPG1, though rates suffered more on BLPG3 Houston-Chiba than anywhere else. The ARB moving against the route and few fixtures pushed the index down by $21.429 with most of the value lost in the final two days. A publication of $118.714 gave a TCE earning equivalent of $49,978. BLPG2 Houston-Flushing was as quiet as we have seen with no fixtures being reported and a fall of $12 gave the index a close of $66.6 and a daily TCE earning equivalent of $67,838.