LNG

The Pacific market has maintained the gap with the Atlantic market, although both markets are softer than a week ago. The 160k CBM BLNG1 route has steadily dropped $1,600 this week to $68,400 while the BLNG1-174 index dropped $3,500 to $84,300.

In the Atlantic the 160k CBM BLNG2 market fell $4,300 to $54,500, and the 174kCBM BLNG2-174 fell $5,500 to $69,000 with sentiment leading the trend downwards.

For the Houston-Japan BLNG3 trip, the reductions cross-basin were similar with the 160kCBM reducing about $4,400 to $69,988 and the 174kCBM dropping about $5,600 to $86,295.

Period continues to remain quiet. The short term spot market looks softer, however with winter approaching owners are just holding off from doing anything for now on the longer term. We published six-months $102,150, one-year $81,675 and the three-year at $84,550.

 

LPG

There has been a welcome upturn in activity in the VLGC sector this week. In the MEG for BLPG1 Ras Tanura-Chiba, a climb of $13.25 gave a final Baltic assessment price of $54.167 assisted by the upward momentum of the western market. At this level the daily Baltic TCE earning equivalent is at $33,309 (+$12,592).

The Atlantic market stole the show this week, seeing a flurry of activity in the form of well over a dozen fixtures reported in the market in a short time frame. For BLPG2 Houston-Flushing, the index closed at $61.25 up a chunky $11.5 from where it opened this week and a daily TCE earning of $60,635. The BLPG3 Houston-Chiba jumped up $19 to a close of $108.83 and a TCE earning of $41,499, which is a 49% increase on this time last week.