17th January 2020
We have only seen a small amount of LPG cargoes for the smaller coasters this week and rates are pushed further down as competition remained strong throughout the week. Relets are still being pushed prompt in North-West Europe and some of the enquiries have either been withdrawn or pushed into next week. The prior weekend we see around three prompt vessels in ARA. Some Owners also may have available ships during weekend/beginning next week depending on turnaround as well as waiting for berthing prospects. Most of the cargoes we have seen has been butane and propane, mostly out from Scandinavia, to find their home in either UK or ARA areas. Larger coasters are busier, but the position list is still considered long, and rates are under downward pressure. The Mediterranean is quiet with less activity.
It has been an uneventful week in the East pressurized market. In the Propylene front, tight far East supply from South Korea and Taiwan as well as ample domestic China supply has caused little interest from Chinese buyers to secure imported cargo. A wide price spread between buyer and seller caused discussions to be at a standstill.
In the butadiene front, apart from Pengerang tender, there is limited spot availability amid regional tightness.
With the lack of spot activities, we expect a length of vessels in Far east into next week.
Time Charter Fixtures
Vessel CBM Charterer Period Delivery Laycan Hire
Symi 35,000 Geogass 1-2m T/C ext. D/C D/C RNR
Nisyros 35,000 Geogass 1-2m T/C ext. D/C D/C RNR
Sale and Purchase/New Buildings
No fresh orders to report.
The fully pressurised 3,447 cbm AYANNA (built 2010 at Shitanoe Shipyard, Japan) has reportedly been sold to Thai buyers for region US mill.
Following the sale of the GAZ CENTURY (7,200 cbm/built 2001) for region USm last year, Naftomar have sold the 7,200 cbm fully pressurized TAMARA (Built 2002 at Kyokuyo Shipyard, Japan) to an unknown Asian Buyer, for a price understood to be in the mid-high US mill's..
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