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Markets > Market Reports > Gas > A number of cargoes were quoted to the market this week... Archive:
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A number of cargoes were quoted to the market this week...

17 December 2012

After a fairly drawn out period of rates softening in the East, there was some respite this week as a number of cargoes were quoted to the market, some of which were on a relatively prompt basis for which there was little competition, leading to rates concluded at higher levels than last done.

In addition, late running vessels caused problems, resulting in charterers dipping into the spot market. This added momentum, resulting in rates rising this week. With a number of fixtures being concluded during December, only two vessels remain available for the rest of the month. This prompted charterers with January cargoes to come into the market, leaving a positive sentiment going into the New Year.

In the West, tonnage remains tight through December, with cargoes booked in advance, and owners are still enjoying a premium to the returns achievable East of Suez. However, as we look into January, availability is increasing with some re-let vessels set to increase competition for cargoes, with some pressure expected in the New Year.

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