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StealthGas INC Weekly Market Report 20-Mar-2009 27-Mar-2009
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News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News". |
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31 Mar 2009
NWE/MED - In the NWE coaster market, this week’s activity was more or less
unchanged with only a certain number of enquiries and not many vessels
fixed. Vessels are still open prompt in the region but they most
probably be fixed in the coming weeks if the expected influx of cargoes
arrives within April. In the butane cargo market, activity
seemed to be
on the positive side as some fixtures were concluded and petchems
remain the products main outlet. On the other hand the propane coaster
market was significantly quieter as the warmer weather conditions are
limiting demand and the few cargoes left, sellers managed to fix them
within their own systems.
In the MED now, activity levels for yet another week are in line with those in NWE with a few enquiries seen and even less fixtures finally concluded leaving many vessels available on a prompt basis. More specifically, in the butane coaster market demand ex East Med for product has dropped compared to last week but as refineries stocks are not that abundant demand from petchems is bound to surface. In the propane coaster market there was some activity to report as colder weather is expected in the region but mostly traders are on the sidelines waiting for April acceptances.
SEA/FEAST
In the Feast market, activity in the region was a bit better than last week as the crude oil index reached and surpassed the USD 50 mark helping product values to increase. Buying interest from Japan and Korea remained weak as buyers believe the market prices to be too high at the moment thus waiting for prices to drop first. Interest for butane by petchems seems waning as the products value has increased on the back of crude oil prices. The arbitrage window to the West is still open but somewhat unstable as prices in the west have a tendancy to fluctuate lately.
In the S.E. Asian market, activity was more present this week as demand from China and Indonesia for Olefins has increased thus effecting production of product in Korea mostly. Demand for butane has increased due to seasonal shift in demand from propane to butane.
Time Charter Fixtures
None Reported.
Sale and Purchase/New Buildings
None Reported.
Scrapping
None Reported.
Source: StealthGas INC
