Fearnleys Weekly - Gas

Chartering

Most of the VLGC market players are in Houston this week for the IHS Conference. Some fixtures ex Houston have been concluded since our last report, and the rates are in the USD mid/low 20s for Houston/Flushing and USD mid 40s for Houston/Chiba via Panama. The transatlantic voyages have about 25% premium to the Baltic level, whereas the transpacific voyages are at parity to Baltic. There are still prompt VLGCs in the USG and spot rates are expected to maintain at best. The shipping market East of Suez has been fairly quiet so far this week, as we mainly have been waiting for pending ADNOC and Saudi acceptances for the May program. One short TC was concluded for Ag/India trade, but otherwise not much else activity to report. According to local people on the ground – Indian Charterers are now only expected to quote for their next charter in requirements bss loading in May (despite earlier talk of potential 1-2 cargos left bss 20-30 Apr loading). With freight availability still plentiful, this was not the type of news that Owners were hoping for.

Activity level

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

Rates

* Excl. waiting time, if any
SPOT MARKET (usd/month)* This week Last week Low 2018 High 2018
VLGC / 84,000 185,000.00 295,000.00 185,000.00 535,000.00
LGC / 60,000 400,000.00 400,000.00 400,000.00 550,000.00
MGC / 38,000 470,000.00 470,000.00 450,000.00 470,000.00
HDY SR / 20-22,000 450,000.00 450,000.00 395,000.00 450,000.00
HDY ETH / 17-22,000 750,000.00 750,000.00 750,000.00 770,000.00
ETH / 8-12,000 450,000.00 450,000.00 440,000.00 480,000.00
SR / 6,500 430,000.00 420,000.00 370,000.00 430,000.00
COASTER Asia 290,000.00 285,000.00 250,000.00 290,000.00
COASTER Europe 320,000.00 320,000.00 280,000.00 385,000.00

LNG

SPOT MARKET (usd/day) This week Last week Low 2018 High 2018
East of Suez 155-165'cbm 36,000.00 37,000.00 36,000.00 80,000.00
West of Suez 155-165'cbm 45,000.00 50,000.00 45,000.00 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