LNG

The LNG market showed a notable shift this week, with a strong recovery in the Atlantic basin while the Pacific was mixed.

On the BLNG1 Gladstone–Tokyo route, 174k cbm vessels declined by $1,000, closing at $22,200 per day, while 160k cbm vessels edged up by $200, settling at $13,800 per day. The continued decline for larger vessels highlights ongoing sluggishness in Pacific demand.

In the Atlantic, rates surged across key routes. The BLNG2 Sabine–UK Continent route jumped by $15,100 for 174k cbm vessels, reaching $36,500 per day, while 160k cbm vessels increased $7,300 to $19,200 per day. The BLNG3 Sabine–Tokyo route also saw a strong rally, with 174k cbm vessels gaining $13,900 to $41,500 per day, and 160k cbm vessels rising $7,800 to $22,900 per day, reflecting a tightening Atlantic market and renewed demand.

The time charter market strengthened. Six-month charters rose by $3,200 to $31,050 per day, while one-year rates climbed by $1,325 to $34,400 per day. Three-year time charters also edged up by $550, reaching $53,850 per day, indicating improved confidence across the curve.

 

LPG

The LPG market has been relatively quiet this week, following the hectic, tariff-driven pricing of recent weeks. Fixing activity has slowed noticeably, and while rates remain below pre-tariff levels, the pace of decline has eased. This may suggest a tentative stabilisation in the market, though underlying sentiment remains fragile.

On the BLPG1 Ras Tanura–Chiba route, rates slipped by $2.26 to settle at $51.333, while TCE earnings fell $2,676, ending at $35,002/day. The decline was milder compared to recent weeks, with Middle East tonnage lists thinning slightly but not yet enough to lift sentiment.

In the Atlantic, the BLPG2 Houston–Flushing route dropped $1.25 to $53.75, with TCEs down $1,963 to $53,316/day.

The BLPG3 Houston–Chiba long-haul route also moved down, losing $1.67 to close at $101.667, with TCE earnings off $1,458, settling at $37,243/day. The arbitrage to the East remains under pressure along with excess freight, and without improvement the market is likely to remain static.