The Baltic Exchange: Gas report - Week 43
The Baltic Exchange: Gas report - Week 43
LNG
A firmer sentiment in the LNG spot freight market has pushed rates up this week. BLNG1g Aus-Japan gained slightly early in the week and more significantly towards the end, moving up over $15,000/day since last Friday to $139,701. In the Atlantic, where the move was more dramatic, BLNG2g USG-Cont finished at $155,233 (an increase of $27,554 over the week) and USG-Japan BLNG3g moved up $21,241 to finish at $180,161. Period was slightly softer mid-week with a one year timecharter on a 174cbm 2 stroke at $104,867.
LPG
The VLGC market has been undoubtedly firm this week, highlighted by the BLPG1 index closing $16.286 up at $130.143, giving a Baltic daily TCE of $116,421/day. With the fixing window now looking out to the back of November and the strength in the Western hemisphere market attracting vessels in that direction, freight levels could continue to head upwards.
The US market has been notably active this week with BLPG2 and BLPG3 freight ticking up consistently. Houston-Flushing BLPG2 added $9.8 to finish at $112 meaning a daily TCE earning on a round voyage was $130,677. While Houston-Chiba hopped up $14.428 giving a closing index value of $200.571 and a daily TCE earning of $115,425. With reports of owners’ sights on next done to be higher than the last, bolstered by thinner tonnage supply fixing has begun to push into December dates.
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