Weekly Market Report 11/8/17 - 18/8/17

18th August 2017

NWE/MED

In the NWE there has been some activity for the smaller coasters this week with a couple of butane- and propane movements from UK and Scandinavia. The list of prompt open coasters is short as a couple of Charterers have managed to conclude business prior weekend. Time being there is only one prompt ship within ARA range. Some Owners have been kept busy scheduling their own COA programs. Larger coasters have been busier with combinations of floating storage and single voyages ex ARA, also due to the earlier reported issues in Pernis. We have seen heavy delays in ports around ARA this week, and some Owners are still awaiting berth availability prior weekend. We still see traders relets being fixed at competitive levels and rates remain balanced as most of Charterers enquiries are for later dates, stretching into end of August/early September.

SEA/FEAST

The pressurized market in the East has been fairly active this week. Some spot or tender cargoes were quoted in the market. PTT issued a tender to sell 2,350 MT propylene from Map ta Phut for end August. Result was not announced at the time of writing. As Moerdijk issued force majeure this week, fear for thinner deep -sea cargoes have led to more active intra-regional trade. We expect the restocking activity to continue next week. Southeast Asia butadiene tender cargoes are also anticipated next week. Taiwan to China trade has been relatively quiet with the on-going Formosa turnaround. Reduced number of C4 raffinate exports have been reported. We have seen a shift of Chinese owners shifting to domestic coastal trade for rest of August.  

Time Charter Fixtures

Ultragas TBN  /12 months/ Del-redl Atlantic-Med 1H Sept/ USD high 300s pcm/ CNR

Kruibeke (2017-38,000)/ 3-4 months /Del-Redel MEG-MEG 10-15 AUG/hnr/ SHV

Nisyros (2009-35,000)/ short TC / Del-redel NEW-NWE 10-12 Aug/ hnr/ Geogas

Navigator Pegasus (2009-22,200)/ 30-40 days/ Del-redl Caribs-Caribs 18-19 Aug/ hnr /Trafigura

Immanuel Schulte (2009-20,600) /10-15 days extension/ Del-redel WCI- WCI 20-20 Aug/ hnr /SHV

Epic Corsica (2009-3,500)/ 12 months/ Del Singapore Aug/ USD 215,000 - 225,000 pcm/ Petco

Sale and Purchase/New Buildings

No newbuilding and second hand sales to report. 

Scrapping

No new scrapping news to report

week

 


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