Fearnleys Weekly - Gas

Chartering

After last week’s burst of activity, especially in the Western market, it seems the market has taken a breather this week. Freight rates continue to stay on a negative course in the East primarily caused by relets pushed out below Baltic. At the same time the Western market has managed to stay rather stable around the USD 60 pmt mark (USG/Japan via Panama). These achieved rates result in a massive premium of some 20% in earnings over the BLPG related fixtures for the ships trading West to East and even higher for the ships traded transatlantic. We do not expect to see any big changes to rate levels neither in the West nor in the East, but we believe the East market has some more freight length that needs to be taken care of before rates can rebounce.

Activity level

COASTER 15-23,000 cbm 82,000 cbm
Stable Moderate Mixed

Rates

* Excl. waiting time, if any
SPOT MARKET (usd/month)* This week Last week Low 2018 High 2018
VLGC / 84,000 420,000.00 435,000.00 420,000.00 520,000.00
LGC / 60,000 550,000.00 550,000.00 550,000.00 550,000.00
MGC / 38,000 470,000.00 460,000.00 450,000.00 470,000.00
HDY SR / 20-22,000 450,000.00 440,000.00 395,000.00 450,000.00
HDY ETH / 17-22,000 770,000.00 750,000.00 750,000.00 770,000.00
ETH / 8-12,000 480,000.00 460,000.00 440,000.00 480,000.00
SR / 6,500 370,000.00 370,000.00 370,000.00 370,000.00
COASTER Asia 250,000.00 250,000.00 250,000.00 250,000.00
COASTER Europe 375,000.00 350,000.00 280,000.00 375,000.00

LPG/FOB prices (usd/tonne)

Propane Butane ISO
FOB North Sea / ANSI 470.00 474.50
Saudi Arabia / CP 525.00 505.00
MT Belvieu (US Gulf) 402.48 405.44 421.83
Sonatrach : Bethioua 475.00 485.00

LNG

SPOT MARKET (usd/day) This week Last week Low 2018 High 2018
East of Suez 155-165'cbm 69,000.00 72,000.00 69,000.00 80,000.00
West of Suez 155-165'cbm 70,000.00 75,000.00 70,000.00 85,000.00
1 yr TC 155-165'cbm 55,000.00 56,000.00 55,000.00 56,000.00

Sales and purchases

Vessel Cbm Type Built Buyers Price Misc
No reportable sales this week