Market Report
1st December 2021
NWE/MED
Despite a slow start to the week on the coasters in North West Europe, it ended in a very different manner with various cargoes hitting the market clearing out much of the prompter tonnage. Rates look to be holding steady for now despite the earlier weeks worries. On the larger coasters the market is tight and charterers are struggling to find available ships to meet their loading dates
SEA/FEAST
Far East Propylene demand has been low this week due to weakened Chinese polypropylene price. Demand for imported butadiene has also been weak with the start-up of new butadiene extraction units in China and depressed downstream demand. In the LPG segment, a few spot cargoes were concluded for loading end November in anticipation of dropping December CP price. We expect some LPG trader relets to emerge in 1st half December to fill, which will help alleviate an otherwise tight shipping market.
Time Charter Fixtures
Vessel Built CBM Charterer Period Delivery Laycan Hire
Epic Breeze 2020 7500 Petroineos 3 months Med NOV HNR
Epic Manhattan 2007 9500 Petroineos 3 months Med NOV HNR
Sale and Purchase/New Buildings
New Buildings
No news
Second Hand
The BW SAKURA (78,900 cbm, built 2010) is rumoured to be committed for sale at just above US$ 50m. The identity of the Buyers has not been confirmed yet.
Scrapping
No news
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