Weekly Market Report 1/12/17 - 8/12/17

08th December 2017

NWE/MED

We have seen strong activity this week as well, for both smaller- and larger coasters. Most of the cargoes has been butane and propane exports from UKC and Scandinavia but we have also seen vessels being fixed for petchems for later dates. Most vessels are well employed into end of the month and rates are still under upward pressure. The larger coasters are kept busy this week and we continue to see stronger demand for larger vessels going forward. Due to the bad weather in the north Owners have experienced heavy delays resulting in voyages being cancelled. Despite weather improvements prior weekend we still delays in certain ports and some positions are therefore a bit up in the air

SEA/FEAST

Pressurized market activities in the East remained subdued this week. In the propylene front, improved domestic China supplies have led to a wait-and-see mood amongst buyers over imported cargoes. In terms of Butadiene, one of the topic of the week was the Lotte Titan butadiene sell tender, as they offered six 2,000 MT cargoes for export from Pasir Gudang in 2018. Titan has not issued a term tender ever since 2013.  Meantime, BST closed their 2018 sell tender (2,000 - 10,000 MT for 2018) with results expected to be announced 14Dec. Despite on-going term discussions, spot discussions were limited with majority of owners covered for entire December.

Time Charter Fixtures

PGC Strident Force (1999-6,397cbm)/Trafigura/10-30d/Del-redel Caribs ely DEC/ HNR

Anafi (2009-35,000cbm)/BPCL/12+6+6 m/Del-redel Ras Tanura Prompt USD 14.95k pd  Tenacity IV (2016_84,000cbm)/Vitol upto 90 d/Del-redel China mid DEC/USD 16k pd

HV Matthew (2007-3,300cbm)/SHV/6+6 months/Del-redel NWE 2H Dec/HNR

Sale and Purchase/New Buildings

The 6,556cbm, 1992 built fully pressurized “Odyn Gas” has been sold to Siamgas for region US$ 4.1m. The closing is scheduled to take place next week, with the vessel delivering in Turke

The 95,000cbm VLEC order placed by Jaccar at Dalian Shipyard is understood to have cost in the region of US$ 130m. The order was placed against a timecharter to Ineos and the vessel will be multigas (LNG/LPG/Eth) capable, delivering in Dec 2019.

Scrapping

No scrapping news

week


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