Fearnleys Weekly - Gas

Chartering

Ten days into the new year it has been a waiting game - players have been waiting for something every day; acceptances of cargo nominations, inventory levels, direction of crude oil prices and probably a few waiting to see where VLGC freight rates are heading, too. So far in January there has not been much change in rates and one can probably say the the annual consistancy of a calm start of every year once again has been confirmed. The fleet balance does not look bad at all neither in the East nor in the West, but at the same time the market needs healthier fob/cfr spreads than what we have seen in the last few days to have a chance to improve much in the short term.

Activity level

COASTER 15-23,000 cbm 82,000 cbm
Stable Stable Low

Rates

* Excl. waiting time, if any
SPOT MARKET (usd/month)* This week Last week Low 2018 High 2018
VLGC / 84,000 470,000.00 520,000.00 470,000.00 520,000.00
LGC / 60,000 550,000.00 550,000.00 550,000.00 550,000.00
MGC / 38,000 460,000.00 450,000.00 450,000.00 460,000.00
HDY SR / 20-22,000 410,000.00 395,000.00 395,000.00 410,000.00
HDY ETH / 17-22,000 0.00 0.00 0.00 0.00
ETH / 8-12,000 450,000.00 440,000.00 440,000.00 450,000.00
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 280,000.00 350,000.00 280,000.00 350,000.00

LPG/FOB prices (usd/tonne)

Propane Butane ISO
FOB North Sea / ANSI 537.00 492.50
Saudi Arabia / CP 590.00 570.00
MT Belvieu (US Gulf) 491.05 441.68 501.73
Sonatrach : Bethioua 550.00 530.00

LNG

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

Sales and purchases

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