Weekly Market Report 24/11/17 – 1/12/17
It has been a busy week for the coasters in North West Europe this week as well, and shipping is continuing tightening up. Time being there are no prompt open coasters however, we will see more vessel availability as from early/middle of next week. We have experience bad weather delaying ships in several ports which have led to uncertainties towards ongoing planning, for both Charterers and Owners. Rates are under upwards pressure and benchmark Tees/ARA basis 1800mts is now around USD 48-49 pmt. It has been less activity for the larger coasters and there are still a couple of prompt vessels around GIB area as we head into weekend.
Pressurized market in the east has been quiet this week as tight shipping market continued to restrict fixing activities. Freight perceptions remain tight in the near term in view of short supply of feasible modern tonnages at major loading ports. Freight was indicated above $100/mt for an ex S.China lifting towards SE Asia, however, no new fixtures were reported at the time of writing
Time Charter Fixtures
Hisui (2010-80,199cbm)/SHV/45 d/Del-redel AG 15 Dec/usd 15,000 pd
BW Brage (2016-84,000cbm)/ENI/60 d/Del-redel Indonesia Dec usd mid 20,000 pd
Norgas Petaluma (2003-8,500cbm)/Mexichem/3 yr/Del-redl Caribs Dec-17/HNR
Sale and Purchase/New Buildings
No sale and purchase
It is understood that 2-3 bidders have received a counter from Statoil against their tender for two Panamax VLGC’s. It is expected that Statoil’s strong preference is for the HHI 79,500 cbm design with either Exhaust Gas Scrubber or LPG Dual Fuel
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