Weekly Market Report 9/08/19 - 16/08/19

16th August 2019

NWE/MED

A busy week across the European coaster market. An active start saw shipping tighten as available vessels were quickly fixed for both prompt and forward enquiries as Charterers looked to secure tonnage. As the week has progressed, we have seen market momentum slowing slightly and delays across ARA easing, resulting in some positions showing over the weekend and into next week. In the larger segment, we have seen several enquiries loading ex-North Sea and ARA, however with pressure positions focused around Gib, and semi-ref vessels well employed in COA's and Grangemouth tonnes, rates remain firm. Further South, large vessels remain busy across the Med and SWE region, with vessels forward fixed on LPG and petchem business. Of additional note, the remaining Epic 11,000cbm vessels employed in the Med and SWE market have been fixed on spot voyage that will result in them leaving the area, leaving only trader tonnage in this segment.

SEA/FEAST

Asian trading activity remained focused on deliveries into the Philippines this week following the failure of one of the main importers to restart their supplying plant after a period of maintenance. Discussions over September cargoes are ongoing, however the limited availability of tonnes from SE Asia terminals has driven FOB quotes above s/mt ex-Straits supply. Chinese markets remained stable as re-export terminals maintained pricing levels, with no immediate selling pressure. China market remained stable as major re-export terminals maintained stable prices with no immediate selling pressure. FOB quote for ex South China premium remained flat at low s/mt basis August CP for both prompt and September lifting. Major wholesale market quotes were stable in China with offers capped at Yuan 3,130-3,350/mt level for the South China region, and regional prices Yuan 3,160-3,450/mt level in the East China area.

Spot freight is softening for the balance of August with several positions showing and prompt enquiries remaining limited.

Time Charter Fixtures

Vessel   CBM    Charterer Period         Delivery Laycan  Hire

Symi     35,000 Geogas     30-60 days  Gib         D/C       HNR

Sale and Purchase/New Buildings

No newbuilding news to report.

No second hand sales to report.

Scrapping

None reported

week


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