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Weekly Market Report 31/8/18 – 7/9/18

NWE/MED

There has been a good flow of cargoes this week, further tightening the smaller sized ships in North West Europe. Prompt tonnage does not exist this side of the weekend, but this quickly changes one week out, where a number of additional positions become available. We are in limbo of what next week brings, but with a further injection of enquiry like we have seen this week we should start to witness rates edging North.

SEA/FEAST

It has been another quiet week in pressurized market in the East. We have recorded only two butadiene tender cargoes each from Anyer and MaptaPhut in October. There remains a length of vessels in Southeast Asia and Far East Asia due to lack of spot activities in September, with freight also under downward pressure.In the TC market, we have recorded totally three 12-month fixtures/ renewals of 3,500 and 5,000 CBM pressurized vessels. Despite slow spot market in August and September, fundamentals of 3,500 cbm TC market remains firm.

Time Charter Fixtures

No TC news

Sale and Purchase/New Buildings

No newbuilding/SnP news.

Scrapping

The 22,900cbm, 1991 built ANNAPURNA is scheduled to arrive for beaching in Alang o/a 10th September. She is the first of the sisterships to arrive for demolition after SCI sold her and the same age NANGA PARBAT for sale in July for US$ 404/ldt.

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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