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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