LNG Shipping: Spot Market Still Stalled
The LNG market experienced a mixed week, with last week’s improving sentiment failing to translate into a sustained recovery in spot earnings. The Pacific market proved more resilient, supported by stronger demand and a relatively tighter vessel list. On the BLNG1 Australia–Japan route, rates increased by $1,300 week-on-week to settle at $37,700/day. The Pacific market ...
The LNG shipping market faced a mixed week, with improvements in sentiment not leading to a sustained recovery in spot earnings. The Pacific market remained resilient, driven by stronger demand and a tighter vessel list, with rates increasing by $1,300 week-on-week to settle at $37,700/day on the BLNG1 Australia–Japan route. However, the BLNG2 US Gulf–Continent route saw a decline of $8,000 to close at $28,600/day, and the BLNG3 US Gulf–Japan route dropped by $6,300 to $59,100/day.
In the time charter market, there was mixed sentiment, with the six-month rate increasing by $5,400 to $47,900/day due to renewed interest in multi-month coverage, while the one-year and three-year rates declined by $2,800 and $2,700, respectively, as longer-term chartering demand remained subdued. The LPG market remained firm despite a quiet start, with limited fixtures concluded and vessel availability remaining tight.
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.