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Weekly Market Report 12/10/18 – 19/10/18

NWE/MED

There has been a steady flow of cargoes this week, with mostly butane cargoes flowing from UKC and Scandinavia. Prompt enquiries have continued to surface, but with limited firm positions around on a spot basis, the majority have had to fix a little further out. Smaller tonnage continues to have a quick turnover rate, with little in the way of idle days and delays continuing to make positions uncertain. The larger ships have also kept active, with multiple larger lot sizes being concluded. The Mediterranean area has been slightly busier, with a small handful of ships fixed on the spot market, although prompt ships still remain.

SEA/FEAST

In the pressurized market in the East, we have continued to see a healthy level of spot activities especially in propylene. We have recorded consecutive voyages fixed basis exports from Thailand and South Korea in October. We have also seen continued interest for spot propylene in November. During this week, other cargoes were also circulated in the spot market including LPG imports into Chittagong as well as exports of C4 Raffinate from Taiwan. Formosa closed a tender of November C4 Raffinate-1 this week. At the time of writing, the result is not yet announced. There has been attempts to bring C4 Raffinate to Europe instead of China, as a result of sluggish demand in China now. In the TC market, a 5,000 CBM pressurized vessel was reportedly fixed for LPG time charter.

Time Charter Fixtures

Vessel                    Built CBM    Charterer  Period           Delivery/Redel Laycan Hire

B Gas Superior     2015 3500   Exxon         3+3 months NWE early         OCT     HNR

B Gas Margrethe 2006 5017   Exxon         3+3 months NWE early         OCT     HNR

Mathraki               2003 22779 Vitol            10-20 Days  CBS                     OCT     HNR

SCF Tomsk             2007 35000 Mitsubish  2 months     SPORE                OCT     500k pcm

Gas Al Kuwait II    2007 82000 Petredec    12 months   AG                      OCT     500k’s PCM

Gas Al Negeh        2007 82000 Petredec    12 months   AG                      OCT      500k’s PCM

Pacific Dongying   2016 84000 Trafigura   Short TC        AG                      OCT     HNR

Concorde               2015 84000 Equinor      3 years          West                  JAN      800k´s PCM

Kailash Gas            1992 85826 SHV             Short TC       AG                      OCT      HNR

Sale and Purchase/New Buildings

Owners of the 3,500 cbm CRIMSON GAS II (built 2012 at Shitanoe Zosen) are inviting offers for the vessel by 22nd October. We understand that two Buyers have already inspected

No N/Bs news

Scrapping

No Scrapping news

Disclaimer: This market report is prepared in good faith, however a significant part of it is based on estimates and market rumors and therefore nothing stated in the report should be taken as a confirmed fact.
StealthGas Inc. denies the responsibility for any errors and/or omissions of whatsoever nature found in the market reports posted on this website.
Source: StealthGas Inc

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