Market Report
11th October 2021
NWE/MED
It has been an active week on coasters in North West Europe. Lack of berthing prospects and bad weather has resulted in a tightening position list. The Charterers who can fix on forward dates has done this in order to secure available tonnage. There is still some prompt-ish tonnage available but with last cargo that some LPG charterers might find tricky. An active market on the short sea petchem market has also helped keeping the coaster market tight. On the larger coasters the market has been quite slow, although a few cargoes have been fixed into Morocco.
SEA/FEAST
East pressurized market activities have kept low this week due to long holidays in China as well as limited vessels in the spot market. Apart from delays due to the national holiday week in China, vessel program has also delayed due to impact of Typhoon Lannie. In shipping market, limited vessel availability has resulted in a handful of October LPG and petrochemical cargoes uncovered. As a result of increasing bunker price and lack of spot vessels, spot freight market is trending upwards
Time Charter Fixtures
Vessel Built CBM Charterer Period Cargo Delivery/Redel Laycan Hire
Ellington 2017 21000 Ineos 3 mon Ethane Europe NOV 2021 HNR
Sale and Purchase/New Buildings
New Buildings
No newbuilding news
Second Hand
BGAS are performing the final voyage on the 1,971 cbm semi-ref B GAS CRUSADER (built in 1996 at Orskovs Staal, Denmark) prior to delivery to an known Buyer in Asia. No further details are known at this stage, apart from her having been bought for further trading rather than recycling.
The 6,270 cbm semi-ref HAPPY BRIDE (built in 1999 at HHI) has been sold to Hargaz, a Romanian LPG importer. Upon delivery end October, she will be commercially managed by Gasmare (Italy).
Scrapping
No news to report
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