LNG

The LNG market continued trending upwards this week, with gains made in both the Pacific and Atlantic Basins, and as well as gains seen on the longer term timecharter markets.

On the BLNG1 Gladstone–Tokyo route, 174k cbm vessels saw an increase of $7,100, reaching $27,900 per day. 160k cbm vessels gained $6,200 settling at $18,400 per day.

In the Atlantic, the BLNG2 Sabine–UK Continent route experienced gains, with 174k cbm vessels increasing by another $4,600 to $30,200 per day, indicating continuing stronger sentiment European demand. Similarly, 160k cbm vessels rose by $1,400, reaching $15,200 per day today.

The BLNG3 Sabine–Tokyo route also saw positive momentum on the back of the trans-Atlantic runs, with 174k cbm vessels climbing by $6,750 to $34,450 per day, while 160k cbm vessels again gained $1,800, reaching $17,200 per day.

Meanwhile, the time charter market showed upward mobility, with 6-month rates gaining $11,350 to $28,500 per day, while 12-month rates were pushed up by $6,425 to $30,000 per day, and 3-year rates, in a similar vein, up by $5,300 to $53,500 per day.


LPG

There has been a certain upturn in rates in the VLGC sector this week with April fixing is reported as firm. In the MEG for BLPG1 Ras Tanura-Chiba a climb of $6.828 gave a final Baltic assessment price of $60.333. At this level, the daily Baltic TCE earning equivalent is at $44,325 (+$7,538) which is a 20% increase on this time last week.

The Atlantic market has also climbed at the back end of the week. For BLPG2 Houston-Flushing, the index closed at $55.625 up a modest $2.125 from where it opened this week and a daily TCE earning of $54,943. The BLPG3 Houston-Chiba ticked up $4.084 to a close of $108.917 and a TCE earning of $42,256.