Fearnleys Weekly - Gas

Chartering

The market in the East has taken a breather this week due to lack of enquiries as end September cargoes more or less are covered on shipping. Nonetheless, a couple of cargoes were fixed for September dates this week at rates around USD 26 pmt basis Ras Tanura/Chiba. One Indian PSU requirement off mid September dates remains on subjects at the time of writing at considerable premium to last done. The number of vessels left for September is scarce and most MEG lifters are awaiting the release of the Saudi acceptances for October to shuffle their programmes. ADNOC acceptances for October came out more or less as per nominations and have yet to create any large demand for shipping, however, time will show. Baltic has continued upwards and owners are still holding for high 20’s for fixing. The West market continues at a wait and see mode, with little to report in terms of actual concluded fixtures. Going forward we see that Houston terminals slowly but surely are getting up to speed and we expect activity to pick up. For US Gulf cargoes, owners are stretching towards the high USD 50’s per ton basis Houston/Chiba via Panama and around USD 30/high USD 20’s per ton basis Houston/Flushing. Time will tell whether the product market is there to support such levels.

Activity level

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

Rates

* Excl. waiting time, if any
SPOT MARKET (usd/month)* This week Last week Low 2017 High 2017
VLGC / 84,000 420,000.00 340,000.00 180,000.00 765,000.00
LGC / 60,000 425,000.00 390,000.00 350,000.00 500,000.00
MGC / 38,000 420,000.00 420,000.00 420,000.00 550,000.00
HDY / 22,000 350,000.00 350,000.00 350,000.00 550,000.00
ETH / 10,000 420,000.00 440,000.00 420,000.00 540,000.00
SR / 6,500 390,000.00 390,000.00 390,000.00 450,000.00
COASTER Asia 200,000.00 195,000.00 190,000.00 200,000.00
COASTER Europe 180,000.00 190,000.00 110,000.00 195,000.00

LPG/FOB prices (usd/tonne)

Propane Butane ISO
FOB North Sea / ANSI 447.00 445.00
Saudi Arabia / CP 480.00 500.00
MT Belvieu (US Gulf) 447.41 447.91 460.01
Sonatrach : Bethioua 475.00 475.00

LNG

SPOT MARKET (usd/day) This week Last week Low 2017 High 2017
East of Suez 155-165'cbm 39,000.00 38,000.00 25,000.00 40,000.00
West of Suez 155-165'cbm 43,000.00 43,000.00 29,000.00 52,000.00
1 yr TC 155-165'cbm 36,000.00 36,000.00 31,000.00 36,000.00

Sales and purchases

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