17th March 2017
This week started off quiet with only a few petchem enquires for smaller vessels however, as we are moving closer to weekend LPG activity has picked up slightly and we have seen Owners fixing their vessels for either prompt requirements or loading into mid/end next week. Time being there are no prompt open vessels in North West Europe but we will see more availability during the weekend, mainly smaller sizes. Most of the cargoes we have seen has been butane ex Scandinavia and a propane enquiry which was eventually withdrawn. Some Owners are still busy covering their own COA programs. We expect to see continuing activity next week however most of the enquiries will be for later dates, from end of next week- into end of month.
Further from last week the Mediterranean activity continue at a steady pace with enquiries ex Spain and Central MED for delivery into Morocco. There are still a couple of prompt open larger coasters which keeps the rates steady. East-Mediterranean remains quiet with more vessels becoming available for business which could bring Owners vessels further North.
We have seen a slow-down of pressurized shipping market in the East with an effect of the regional turnaround season from March. In the propylene market, Pertamina propylene volume was reported sold to domestic market April onwards and same has caused a tune-down of pressurized shipping activities. In the butadiene market, demand is low this week amid high rubber inventory and upcoming turnarounds in Korean SBR plants in 2nd half April. On the other hand, supplies in China and Southeast Asia are longer. Two intra-Southeast Asia spot fixtures were recorded this week with more to be expected going into next week. We also expect attempts to export BTD into Europe in expectation of heavy turnaround season in April. In the C4 Raffinate market, there were two Southeast Asia cargoes discussed this week in view of limited supply in Far East amid turnarounds in Taiwan and Korea. A PTT C4 raffinate-1 cargo was awarded basis 27-29 April loading window with cargo finding home in East China. In the shipping market, we have seen a slight downward adjustment of freight rates together with decreasing bunker price.
Time Charter Fixtures
On the timecharter market, SHV have reportedly fixed the BW Tyr (82,000cbm) for 20-30 days, basis delivery/redelivery MEG end June at USD 450K pcm.
Sale and Purchase/New Buildings
No Sale and Purchase/New Buildings news
No Scrapping news
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