RIM Market News >  Weekly Summary

LPG: Apr 8-12: Premium levels to May CP sharply widening

2019/04/15 07:00

CFR Far East

The CFR Far East market was firm last week due to rising crude prices and tight supply/demand. Particularly, buying interest for first-half May delivery was robust. Relative to the May CP, although the premium level had been $30-40/mt for propane and $61-66/mt for butane on Apr 8, that for propane and butane rose to $46-51/mt and $70-75/mt respectively thereafter. One Japanese importer apparently bought a 23,000mt propane cargo at a premium of $61/mt to May CFR Far East quotations from one importer from East China early last week. 


FOB Middle East

The May CP was expected to be at around $507/mt for propane and about $527/mt for butane. Several sellers moved on spot sales for May loading. One European trader apparently showed selling interest for a 44,000mt 50:50 cargo for May 10-11 loading from Kuwait. Moreover, one Japanese importer reportedly offered a 44,000mt 50:50 cargo for May 25-26 loading from Qatar on a May CP basis. Further, a 44,000mt 50:50 cargo for May 15-16 loading from Qatar seemed to be also available based on the average of the May and June CP.


Asia Pressurized Market

Some spot cargoes for first-half May loading from South China rose to a premium of $70-75/mt to the May CP owing to increasing procurement costs of refrigerated cargoes. Along with an increase in FOB South China prices, sources viewed that deals for first-half May delivery to Vietnam might be possible at a premium of $110-120/mt to the May CP, higher than the level early this month.  


Japan Domestic Market

In the truck market for April lifting in Keihin, discussion levels rose to Yen 62,500-62,800/mt for propane and Yen 66,500-66,800/mt for butane due to tight supply/demand. While some buyers were expected to have spot demand, some importers had low inventories and supply was tightening.

LPG (English) report sample 

Tokyo : LPG Team  Shiga  +81-3-3552-2411
Copyright©2019 RIM Intelligence Co. ALL RIGHTS RESERVED.
facebook      twitter

About SSL?