LNG

Bearish winter rates are hampering brokers wishes for a rebound prior the end of Q4. With fixtures reported but at ever lower rates there is very little optimism in the LNG Spot market. Both ships and all three routes dropped again with some of the levels published the lowest this year.

BLNG1 Aus-Japan on the 160cbm TFDE ship fell by $6087 to $24,913 while the 174cbm 2-stroke dropped $3687 to $41,813. BLNG2 Houston-Cont published at $20,901 on the 174cbm 2-stroke, and though there was a fixture recently reported done from US-Cont at $17,500 a lower rate may not be repeated. The 160cbm TFDE dropped $5186 to $13,714. The BLNG3 Houston-Japan index suffered a tough week with low liquidity and little interest in going intra-basin rates fell by $7614 and $8923 on the 174cbm and 160cbm respectively. This gave the index a final publication of $37,584 for the 2-stroke with the TFDE published at $25,777.

Period remains muted with no interest in multi month discussions while the spot market and indeed winter market overall remains very low. Our 6-month period was down by $12,650 to $53,550 while the 1-year term dropped $5000 to $57,625 and the 3-year saw the smallest loss at only $1650 to $74,700.

 

LPG

For BLPG1 Ras Tanura-Chiba, there have been some fixtures reported in the market, but the sentiment has still been riding lower. Rates have fallen again, though they have begun to stabilise with the end of the week remaining completely flat. A drop of $9.736 gave a closing publication price of $47.167 and a daily TCE earning equivalent of $26,677.

Across the Atlantic the Baltic BLPG3 Houston-Chiba saw several ships placed on subjects, rates fell though for most of the week they remained, like in the East, quite stable. With a drop of $6.667 BLPG3 published at the close with $106.833 and a daily TCE of $40.273, while BLPG2 Houston-Flushing remained flat seeing no real enquiry, and falling $1.5 to a close of $59.25 gave a daily TCE earning equivalent of $57,842.