After a successful and well attended Gastech in Singapore the market has come back to life, refreshed and invigorated.
Rates for all three routes saw good gains with the Atlantic showing a particular comeback, brokers have reported that in terms of activity the Atlantic is now catching up with the East.
BLNG1g Aus-Japan saw $16,026 gained on the week brining up freight to $185,884 on a round trip basis. Reports of some intra pacific private deals fuelling strength in a continued rise for rates. BLNG2g US-UKC gained an impressive $24,534 to close at $182,969 while BLNG3g US-Japan finished at $219,219. Fixing windows have moved out well into the depths of the upcoming winter market and rates are reflecting this now.
LPG
The LPG market has remained firm this week with BLPG1 Ras Tanura-Chiba rising $4 over the week to close at $155.429, giving a daily TCE earning of $144,676. A relatively tight tonnage list and continued cargoes being shown has kept levels high. With more expected cargoes coming into the works the quieter end to the week is perhaps the calm before the continuing storm.
The Atlantic was busy with fixing though this is still behind the same level of fixtures concluded at this time last year. What is more positive is that rates have risen again, with BLPG2 Houston-Flushing moving $5.2 and over $6,500/day to close at $123.8 for a round trip with TCE earnings at $145,729. For the eastern run BLPG3 Houston-Chiba a slightly more reserved rise gave a week’s close of $223.143 and a TCE earning of $133,128.
