LNG Shipping Just Had a Strong Week

The LNG market had another strong week, with a flurry of new cargoes and a tightening of position lists increasingly visible in both the East and West regions.

On the BLNG1 Australia–Japan route, 174 thousand cbm vessels saw an increase of $4,500 to $28,400 per day, while 160 thousand cbm tonnage increased by $6,900 per day to $20,000 per day, along with the arrival of several new cargoes with limited vessels capable of reaching laycan.

The BLNG2 Gulf–US Continental route strengthened significantly, with 174k cbm rates up $3,800 to $34,000 per day and 160k cbm vessels up $4,900 to $21,800 per day, supported by limited vessel availability and cargo liquidity.

The BLNG3 US Gulf – Japan route followed suit and gained momentum, with 174k cbm vessels up $3,250 to $38,400 per day and 160k cbm tonnage up $4,600 to $23,900 per day.

The time chart level follows the spot market sentiment and also increases. The six-month term is up $1,150 to $30,900 per day, the one-year term is up $1,000 to $33,500 per day, while the three-year term is up $1,500 to $52,000 per day.

LPG

The LPG market continued to weaken this week, with prices falling across major routes as sentiment weakened further due to ongoing US and China tensions, and a lack of cargo liquidity.

On the BLPG1 Ras Tanura–Chiba route, fares fell $2.83 to $57.75 per metric ton, with TCE revenue down $3,283 to $44,073 per day. Due to increased tonnage lists and lack of investigation.

The BLPG2 Houston–Flushing route fell $0.75 to $60.75 per metric ton, while daily returns fell $1,691 to $63,541 per day following the BLPG3 drop.

The BLPG3 Houston–Chiba route lost $2.00 to $113.50 per metric ton, with TCE revenue down $1,739 to $48,355 per day. With sentiment becoming more bearish amid weakening arbitrage and inactivity.
Source: Baltic Exchange