NWE/MED: In the NWE market activity this week remains pretty much silent as the expected last minute fixing flurry for this time of the year was not seen. There were only a few enquiries and fixtures
In the NWE market activity this week remains pretty much silent as the
expected last minute fixing flurry for this time of the year was not
seen. There were only a few enquiries and fixtures witnessed with
product prices having their ups and downs. Also as far as vessel
availabilities are concerned there are still some candidates remaining
open but for the most part charterers seem to be covered till the beg of
Jan. Specifically, taking a look at the smaller vessels segment (3k-5k
cbm), the majority of fixtures were realized in this sector but even
here activity has been restrained as the holiday season has slowed
things down. Also there were some delays seen at ARA ports due to
strikes but this didn’t cause severe problems. On the larger coasters
side (6k-8k cbm), activity was very silent with the smaller vessels
segment taking up all the attention. On the propane coaster market side,
activity has dropped yet again with little interest seen for spot
fixing and refinery tons seem to be scarce. Also the warm weather
conditions are not helping activity pick up and it most likely won’t
improve until the years end. On the butane coaster market side of
things, activity has picked up some momentum this week with blenders
showing their demand yet again. Also there is an arbitrage opportunity
available with the South and good quality product is still hard to find.
Moving to the MED now, this week activity in this sector seems to be
more or less the same seen in NWE with little in terms of enquiries and
fixtures as most traders seem comfortable till end of the year. Also
there seem to be some spot prompt vessels available but there are some
approval issues that are preventing fixing. Specifically, on the propane
coaster market side, activity was rather quiet with warm weather
conditions hindering any real demand in the area. There were reportedly
no spot fixtures concluded and things are expected to remain quiet as
the holiday season is in full swing. On the butane coaster side,
activity was better off with continued demand from East Med and Maghreb
for yet another week. The only hindering factor was a lack of prompt
availabilities decreasing fixtures. As reported about 3 lots of 2-3 kt
were traded fob ex Lavera for Dec loading.
In the Feast pressurized market activity continues to be on the quiet
side with little spot interest being shown. As reported some demand was
seen for end of the month fob tonnes ex Seasia but nothing materialized.
Sentiment here is the same as that seen in Europe with no flurry of
enquiries seen before the holidays with most traders covered on their
own tc programs. Lastly in the Indian Ocean, activity remains
particularly quiet on the spot side of things as the majority of traders
are well scheduled for the years end.
In the Asian ppl mrkt now, the spot market was particularly quiet with
activity focused on tc deliveries. Also the usual enquiries seen in the
intra-SEA region were pretty much silent as most traders are well
scheduled for this year and beg Jan. On to the other petchem markets
now, the cc4’s and btd are accumulating the most activity but not much
was seen moving this week mainly due to a lack of prompt vessel
availabilities. According to reports there have been some delays due to
congestion at ports around the Feast pushing positions back to Jan. As
far as the vcm market is concerned activity was very silent mainly due
to some reportedly unfortunate events at plants in the region.
Time Charter Fixtures
Clipper Orion (60,000 cbm) was extended for 6 months to acct Geogas taking effect in Jan 2012 – hnr
Navigator Leo (20,700 cbm) was fixed for 1 year T/C to acct CSSA with del Med / 1H Jan – hire reported at around usd 750k pcm.
Gaschem Nordsee & Gaschem Adriatic (17,000 cbm) were fixed for min 2
years + ops T/C to acct Evergas with del Jan/ Fujairah – hnr.
Berge Ningbo (82,000 cbm, blt 2006) was fixed for 30-60 days short T/C to acct Petredec with del Jan / Caribs –hnr
Antarcticgas (15,000 cbm, blt 1991) was fixed for 9 months + months ops T/C to acct MISC with del end Jan / Sea – hnr.
Sale and Purchase/New Buildings
Bunga Kekwa (3,500 cbm, blt 1995) was sold by MISC to an Indonisian buyer – price reported at around usd 4.25 mill
Source: StealthGas INC