Weekly Market Report 29/3/19 - 5/4/19

05th April 2019

NWE/MED

The coaster market in North West Europe has been fairly active with numerous cargoes quoted, predominantly from UK coast and Scandinavia. We continue seeing butane demand in North France as well as ARA and the larger coasters have remained busy with West Mediterranean deliveries.. At the time of writing there is more than one prompt smaller coaster and more will become available during weekend the week and into early next week. Rates are kept balanced from last week as competition remains strong between owners. We expect more of the same near term, with rates likely to stay unchanged.

SEA/FEAST

In the East pressurized market, unplanned plant trouble in Southeast Asia has caused a slide in C4 Raffinate exports in April. Buyers have also mostly covered their April program and focus has shifted to May deliveries. Butadiene demand remains weak despite rebound of rubber futures markets. Chinese end-users continued high inventory level has limited their buying interest. In the LPG segment, after some prompt deliveries into Philippines were covered, Southeast Asia LPG supply has dried out and we expect this to continue into next week. LPG exports from South Korea have resumed this week although still limited in volume. Spot ships are showing in both North and South East Asia as a direct result of lower trading activity.

Time Charter Fixtures

Vessel        CBM     Charterer      Period        Delivery          Hire

Lubara       82,000  OE            12 months A.G. Mid Apr Bal tic related

Syn Zaura  4,000    ENI           12 months Med Apr         HNR

Syn Zosma 4,000    ENI             6 months Med Apr         HNR

Sale and Purchase/New Buildings

Nissen Kaiun has ordered a single conventionally fuelled 84,600 cbm at HHI against a long-term TC to Eneos. The Vessel is due for delivery in Q1 2021 and represents the first VLGC order that HHI have taken for 2021 delivery.

The 3,000 cbm semi-ref sisterships VENERE and MARTE (Built 2004 at Cant. De Poli) have been bought by Bergshav Group/B-Gas. The vessels will be renamed B GAS VENUS and B GAS NETUNE respectively.

Scrapping

No scrapping news

week


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