Market Report

1st December 2021 

NWE/MED

Despite a slow start to the week on the coasters in North West Europe, it ended in a very different manner with various cargoes hitting the market clearing out much of the prompter tonnage. Rates look to be holding steady for now despite the earlier weeks worries. On the larger coasters the market is tight and charterers are struggling to find available ships to meet their loading dates

SEA/FEAST

Far East Propylene demand has been low this week due to weakened Chinese polypropylene price. Demand for imported butadiene has also been weak with the start-up of new butadiene extraction units in China and depressed downstream demand. In the LPG segment, a few spot cargoes were concluded for loading end November in anticipation of dropping December CP price. We expect some LPG trader relets to emerge in 1st half December to fill, which will help alleviate an otherwise tight shipping market.

Time Charter Fixtures

Vessel                Built CBM Charterer   Period      Delivery Laycan Hire
Epic Breeze       2020 7500  Petroineos 3 months  Med        NOV    HNR
Epic Manhattan 2007 9500  Petroineos 3 months  Med        NOV    HNR

Sale and Purchase/New Buildings

New Buildings

No news

Second Hand

The BW SAKURA (78,900 cbm, built 2010) is rumoured to be committed for sale at just above US$ 50m. The identity of the Buyers has not been confirmed yet.

Scrapping

No news

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