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Market Information Hub - Liquefied Gas
 Shipping Developments
Golar LNG and Bluewater Energy Services have purchased the LNGC "Hoegh Gandria" (123,512cbm, blt 1977), for a reported US$50m. Each will hold a 50% stake in her and it is said she may be offered for conversion to a floating LNG import facility for use off South Africa. PetroSA needs 2 ships for use as a storage unit and regasification vessel respectively, to be based in Mossel Bay, and ... [more]
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 Terminals
Following its recent conversion to a floating storage & regas unit (FSRU), the "Golar Spirit" (129,013cbm, blt 1981) is expected at Porto Pecem in Ceara state, Brazil, on 22 July. There it will act as that country’s first LNG import terminal, having recently loaded a cool-down cargo in Trinidad.Petrobras is reviewing various sites for Brazil’s third floating LNG import ... [more]
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 Liquefaction
Iran’s Oil Minister has said that Total will not now participate in phase 11 of the South Pars gas field development, as the company failed to make a final investment decision on the project by the stipulated end-June deadline. Total had faced pressure from the US and French governments not to invest in Iran, and had been reluctant to make a decision due to escalating project costs. Petronas ... [more]
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 Overview
Last week saw LPG product prices fall in line with dropping crude prices. Prices were hit both in Europe and Asia. ... [more]
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 VLGC
There is very little incentive for product to be moved in the current market climate, which is not helping the long tonnage list, with at least half a dozen owners having vessels idle in the MEG. The question is whether the expected drop in cp prices for February and March will be enough to correct the current situation.The shipping market is much tighter in the West with only a few ... [more]
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LGC/MGC
In the LGC market, there are still uncovered requirements for January, with charterers unable to secure tonnage for January loading dates.The MGC sector is very firm at the moment, with a number of spot and COA requirements keeping the majority of the fleet occupied. ... [more]
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 Coasters
The coaster market continues to tighten and, with many owners fixing early in the month and running very tight programmes, it is difficult to see many ships coming open through January. The situation has been heightened by delays in areas of Europe, due to adverse weather conditions. ... [more]
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 Petchems
Ethylene exports ex-US to Europe continued to command rates of around US$220/mt. All January stems seem to have been fixed and players are now looking into February. The propylene market is equally buoyant, with cargoes been sent to NWE and the Far East at healthy levels for owners. ... [more]
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Sale & Purchase
Petredec are reported to have purchased the 1985-built, 77,700cbm vessel, the "Hourai Maru." Price is rumoured to be in the region of US$24m. ... [more]
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 Representative Freight Rates
VLGC MEG - Japan, 40/44,000t, US$27.50/t.3,800t Tees-Lisbon, US$68/t1,800t Tess-ARA, US$42/t ... [more]
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