LNG, Gas Shipping Rates Under Pressure
LNG The LNG market remained under pressure this week, despite a number of cross-basin requirements emerging from both the US Gulf and West Africa. With the fixing window moving into November and early December, vessel availability continues to outweigh cargo demand, limiting the usual seasonal uplift in freight rates around this time. On the BLNG1 ...
LNG and gas shipping rates are experiencing pressure this week, despite emerging cross-basin requirements from the US Gulf and West Africa. The fixing window has moved into November and early December, with vessel availability outweighing cargo demand and limiting the usual seasonal uplift in freight rates. On the BLNG1 Australia–Japan route, rates declined by $2,700 week-on-week to settle at $27,600/day, while the BLNG2 US Gulf–Continent route fell by $200 to $21,200/day.
The BLNG3 US Gulf–Japan route decreased by $800 week-on-week to $49,000/day. Additionally, the long-haul requirements remained present, but the absence of sustained Eastbound arbitrage and continued competition between vessels kept rates relatively flat. In the time charter market, sentiment has softened across all periods, with the six-month rate falling by $3,800 to $42,500/day and the one-year term declining by $933 to $51,100/day.
The LPG market has also cooled slightly following strong gains the previous week, as the arbitrage narrowed and reduced further upward gains.
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.
