LNG

The market in the East is very subdued, with rates taking a battering due to limited inquiries and excess tonnage, along with charterers' reticence. This has left many owners and brokers within the LNG market feeling quite glum. Rate for our BLNG1 Aus-Japan came off steeply on the 174cbm 2-Stroke down $6599 giving a close of $35,214, while the 160cbm TFDE ships fared better losing only $404 the delta has narrowed, and we published at $24,509.

BLNG2 Houston-Cont has published near historic lows and on the 160cbm TFDE ship, this has translated to a final publication of $11,900, a drop of $1814 from the previous week.

Once again, the more modern 174cbm 2-Stroke ships suffered worse, losing $3008 and publishing only $6000 up on the TFDE at $17,893. BLNG3 Houston-Japan saw little in the way of fixing, and intra Basin activity has been largely silent of late which is helping push rates down further. The 160cbm TDFDE index lost $2741 to close at $23,036, while the 174cbm 2-Stroke finished down $4660 at $32,924. There hasn’t been much else to report for LNG of late, and the weekend is welcomed by many.

Period has remained muted with charterers unwilling or at least unsure of where to peg period rates, and discussions are moving more towards index linked charters. The Baltic assessment this week was down on all three periods with the 6-month publishing at $39,350 a drop of over $14,000, while the 1-year was down to $50,000, and the 3-year term dropped to publish at $68,400.

 

LPG

With upcoming celebrations for Diwali, there were several ships fixed for Indian cargoes prior the close of the week. Although, rates were flat for the most part, and finished up marginally. Expectations of a quieter week ahead will likely keep rates steady. As it stands, the Baltic BLPG1 Ras Tanura-Chiba published price was $53.889 up $1.222 which gave a daily TCE earning equivalent of $34,338.

Across the Atlantic, the market came under increasing pressure with a growing tonnage list and several relets appearing. Rates began to creep down, and the final publication dropped below the $100 mark. For BLPG3 Houston-Chiba, a drop of $7.166 gave a final price of $99.167 and a daily TCE earning equivalent of $35,196. For BLPG2 Houston-Flushing, another quiet week dropped rates by $3.5 to close of $56 and a daily TCE Earning equivalent of $54,301.