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Market Information Hub - Liquefied Gas
 Shipping Developments
Japan’s Tokyo Gas is to take a minor shareholding in 2 LNGC shuttle & regasification ships (SRVs) owned by a joint venture between Mitsui OSL Lines (MOL) and Norway’s Hoegh LNG. Both companies currently have a 50% stake in the Samsung-built “GdF Suez Neptune” (145,130cbm, blt 2009) and “GdF Suez Cape Ann” (145,000cbm, blt 2010), but MOL’s shareholding would fall to 48.5%, with Tokyo Gas taking a ... [more]
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 Terminals
In Alaska, ConocoPhillips and Marathon Oil are seeking confirmation from the US federal government that the export licence relating to their jointly-owned Nikiski liquefaction plant will be renewed for 2 more years, and that no preconditions will be attached to any such extension; the present licence lapses after end-March 2011. The companies argue that, contrary to the claims of some local ... [more]
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 Liquefaction
A possible third LNG project is in prospect in Papua New Guinea: Canada’s Talisman Energy has been drilling at several onshore sites in that country and, if it can confirm the existence of 2-4 Tcf of natural gas reserves, could evidently then justify building a 3mtpa LNG plant at which these would be processed. ExxonMobil has said that it hopes to decide early in 2011 how to develop the 8 ... [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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