Weekly Market Report 11/01/21 - 18/01/21

18th  January 2021

NWE/MED

Slightly more activity for the smaller coasters in North West Europe this week. Although we have not seen any great impact on rates, we expect fewer open positions next week as we notice more charterers looking at prompt business. Most of the cargoes we have seen has been butane and propane movements ex UK coast and Scandinavia and prior weekend there are around four prompt coasters around ARA. Larger coasters remain busy and we see less positions prompt in NWE. Slightly less activity further south and more vessels are available around GIB areas.

SEA/FEAST

We have seen active LPG spot activities in the East pressurized shipping market this week. January LPG demand has kept healthy employment of Southeast Asia 5,000 CBM vessels with a handful spot fixtures recorded. Going forward, it is expected that regional LPG demand is decreasing with most buyers having completed stocking up for February and with reduced appetite for further imports. Butadiene spot activities have also been active this week. A Japanese trader and a Korean trader were each looking at February butadiene exports from Southeast Asia and India. In Far East, demand for propylene and butadiene import has been reduced. While there is a recovery in supply, demand has been reduced due to weakening downstream demand. As a result, there has been a lack of spot activities. Additionally, port congestion has caused a few vessels to be cancelled due to extended delays from their next program.

Time Charter Fixtures

No time charters to report

Sale and Purchase/New Buildings

New Buildings

no fresh orders to report this week

Second Hand

No second hand sale to report.

Scrapping

No news to report

week


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