LNG Shipping Still Under Pressure, While LPGs Moving Higher
LNG The LNG market remained under pressure this week, although the Atlantic basin showed some signs of stabilisation. September laycans are now largely covered and attention has begun to shift towards October requirements, with spot enquiry gradually emerging. However, vessel availability remains elevated across both basins, continuing to weigh on freight levels. On the BLNG1 ...
The LNG shipping market has been experiencing pressure this week, although the Atlantic basin is showing signs of stabilization. September laycan requirements have largely been met, and attention has shifted towards October needs, with spot enquiry gradually emerging. However, vessel availability remains high across both basins, continuing to put downward pressure on freight levels.
The BLNG1 route from Australia to Japan saw rates decline by $9,000 week-on-week to $21,400/day, while the BLNG2 route from the US Gulf to the Continent increased by $4,100 to $17,000/day. The BLNG3 route from the US Gulf to Japan rose by $800 to $29,400/day. Freight levels have remained relatively stable, but overall sentiment remains cautious due to the surplus of available tonnage.
In the time charter market, six-month rates increased by $1,200 to $56,000/day, while the one-year term decreased by $467 to $54,500/day. Further out, the three-year period strengthened by $950 to $72,450/day. Meanwhile, the LPG market has shown strength this week, driven by a robust arbitrage, tight vessel availability, and ongoing Panama Canal restrictions.
The BLPG1 route from Ras Tanura to Chiba settled at $225.50, with TCE earnings closing at $216,062/day. The BLPG2 route from Houston to Flushing increased by $5.75 to $154.75, with TCE earnings rising by $5,308 to $175,678/day. The BLPG3 route from Houston to Chiba gained $18.25 to close at $283.33, while TCE returns increased by $11,621 to $167,329/day.
The route saw the strongest increase of the two Atlantic assessments, supported by improving eastbound economics and the impact of longer voyage durations via the Cape.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
