LNG Shipping Market Gaining Ground
The LNG market strengthened this week, with increased fixing activity helping to reduce some of the available tonnage in both basins. The Atlantic market firmed following a number of fixtures and a slight drawdown in the position list, although further cargo requirements will be needed to maintain the momentum. On the BLNG1 Australia–Japan route, rates ...
This week saw the LNG shipping market gain ground, with the Atlantic basin tightening as a result of recent fixtures and a slight reduction in the position list. Meanwhile, the prices for the BLNG1 Australia–Japan route climbed by $6,500 to $44,800 per day. The Pacific market saw an increase in prompt vessel availability, leading to a slight strengthening, although overall supply and demand remain balanced.
The BLNG2 US Gulf–Continent route increased by $500 to reach $29,800 per day, while the BLNG3 US Gulf–Japan route rose by $3,300 to $63,800 per day.
In the time charter market, rates improved across all periods, with the six-month rate climbing by $1,800 to $42,500 per day and the one-year term increasing by $2,067 to $53,867 per day. Further out, the three-year period rose by $100 to $70,600 per day.
The LPG market remained relatively subdued, with the East-West arbitrage remaining open, supporting cargo economics. The BLPG1 Ras Tanura–Chiba route settled at $257.20 per tonne, while the BLPG2 Houston–Flushing route increased by $1.17 to $174.33 per tonne. The BLPG3 Houston–Chiba route gained $3.86 to close at $313.14 per tonne, with TCE returns increasing by $767 to $184,820 per day. Overall, rates remained relatively stable, as participants awaited fresh cargo activity to provide clearer direction in the coming weeks.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
