The Baltic Exchange: Gas report - Week 39
The Baltic Exchange: Gas report - Week 39
LNG
A small increase in the availability of tonnage in the Atlantic, in part due to the lack of an incentive to ship cargoes as a reduction of TTF gas pricing going into November, has caused sentiment to weaken slightly. There is an unconfirmed report at time of writing that a 174,000 CBM 2-stroke has fixed trans-Atlantic at numbers significantly below last done, which will have a corresponding (or more) effect of the 160,000 CBM market.
BLNG1g Aus-Japan has modestly fallen this week to end up at $186,069, about $6,000 less than a week ago. The Atlantic market moved in a similar fashion early on, BLNG2g US-UKCont falling almost $5,000/day on Tuesday and then tumbling a further $19,000/day today to $170,509. Meanwhile, US-Japan BLNG3g saw a similar loss with the rate ending up today at $195,791, $29,000 less than a week ago.
LPG
The gas market took a firm downturn this week seeing a steady fall after an early week cargo reported done at a $168.5 Baltic LPG1 equivalent and available tonnage said to be accumulating. BLPG1 Ras Tanura-Chiba lost $24 over the week to close at $159.46 rendering a daily TCE earning of $148,186, over $27,000 less than at the start of the week.
For the US market activity levels have been similarly low to the Middle East. BLPG2 Houston-Flushing ended up settling at $134.20 following a fixture reported earlier in the week at $150. Available units have also been reported to be increasing in the region and despite the ongoing Panama Canal delays the BLPG3 index shed $18.43 to $253.29 taking the round trip Baltic TCE to just over the $140,000/day mark.
Similar News
