Weekly Market Report 6/4/18 – 13/4/18
The coaster activity in North West Europe has been rather busy during the week however, there are still prompt vessels around ARA areas prior weekend. ENI has been quite active with UK and Scandinavia exports and in addition we see more of the larger vessels (pressurized) employed with full cargo. The larger semi-refs however, are less busy and positions starts building up. We have seen a couple of vessels failing subs due to certain terminal technical requirements but seems Charterers have not had trouble finding replacing vessels. Still, there are Owners awaiting discharge port declarations which might add a couple of more prompt vessels during beginning of next week. Sacor is looking at 3200-4000 cbm vessels (pressurized or semi-refs) for timechater, 1 year plus option from June/July present year. The Mediterranean in general is quiet and we see prompt positions starting to build up, mostly larger vessels
We have continued to see another week of subdued level of activities in the pressurized market in the East. Amid a combination of unplanned plant disruptions as well as continued regional turnarounds especially in Far East, limited prompt cargoes have led to a small length of vessels in 2nd half April. MOC vessels have also found gaps for employment until End May due to Formosa turnarounds and delays in domestic projects. The focus of this week has now been shifted to May as a total of 5 tender cargoes from Map ta Phut were reportedly awarded within this week for May loading. There has been pressure on a downward trend on freight as owners seek employment in 2nd half April.
Time Charter Fixtures
Hisui (2010-80,199cbm)/SHV/short TC/Del-redel AG mid Apr/ low-mid USD 5000s pd
Innovator (2018-38,000cbm)/Vitol/30-40 d/Del-redel Mumbai 10 Apr/usd low 400k pcm
Sale and Purchase/New Buildings
No New Buildings and SnP news
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