Weekly Market Report 7/4/17 - 14/4/17

14th April 2017

NWE/MED

An active week on the Coaster market. Much fixing taking place throughout north west Europe with each of the major traders coming to market. Rates remained strong with tonnage tightened from vessels being fixed ahead over the last week, and owners occupied by busy COA programs with some not able to show an open position for the foreseeable month.

In the Mediterranean, there has been a small amount of activity, a trader entered the market with an enquiry of 2.0kt LPG Mix ex- Millazzo, but this is thought to have failed to materialize and could have been a rate check. The Black Sea is mostly tied up by trader programs, with spot activity non-existent.

SEA/FEAST

In the SEA/FEAST some of the larger pressurised ships have found employment on short term period business whilst the smaller ships have been busy on petchem shipments rather than LPG. Additionally, there were multiple Iran cargoes from JAM for 5.0kt Butadiene with eastern or western discharge options for loading sec-ond half April.

Time Charter Fixtures

No Time Charter Fixtures to report. 

Sale and Purchase/New Buildings

No newbuilding news to report.

The fully pressurized 7,500 cbm BOTAFOGO GAS (built 2009 at Murakami Hide) is understood to be in close negotiations with an European Buyer. No details have emerged but price is likely to be in the low US$ 11mills compared to the $12.5m that she was sold to Parsan Energi at the end of last year, who subsequently failed to take delivery.

Scrapping

No Srapping news to report.

 

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