The LNG and LPG tanker markets maintained their strong momentum this week, reflecting a mix of increased demand and tightening vessel availability. In the LNG sector, the market experienced substantial gains, particularly on major routes in the Atlantic basin. For instance, on the BLNG1 Gladstone–Tokyo route, 174k cbm vessels saw an uptick of $1,600, bringing their daily rate to $20,800.
Similarly, 160k cbm vessels experienced a modest increase of $1,200, settling at $12,200 per day. These changes highlight a steady improvement in earnings for smaller vessels over the week. The BLNG2 Sabine–UK Continent route echoed this trend, with 174k cbm vessels rising by $4,400 to $25,600 per day, thanks to stronger demand for westbound cargoes.
Likewise, the BLNG3 Sabine–Tokyo route registered growth, with 174k cbm vessel rates climbing by $3,300 to $27,700 per day, reinforcing bullish sentiments in the long-haul trade. Conversely, the time charter market displayed mixed movements, as 6-month rates fell by $1,000 to $17,150 per day, while 12-month rates increased by $500 to $23,575. However, 3-year rates declined by $1,300, reaching $48,200, indicating uncertainty in long-term market outlooks.
On the LPG front, the market also witnessed robust upward movements. The BLPG1 Ras Tanura to Chiba route saw rates rise by $6.86 to reach $53.03, with TCE earnings sharply increasing by $7,129 to close at $36,002. This surge is attributed to heightened activity from the US and tighter vessel availability in the Middle East.
In the Atlantic, the BLPG2 Houston–Flushing route experienced a $5.00 increase to settle at $53.50, with TCE earnings improving by $6,831 to reach $51,853. Moreover, the BLPG3 Houston–Chiba route surged by $12.58 to $104.83, with earnings soaring by $9,452 to $38,874. Overall, the LPG market demonstrates strong positioning due to tightening supply and rising demand, though ongoing monitoring is essential to determine if this trend will continue.