CFR Far East

CFR Far East prices declined last week due to slack supply/demand. Rim Asia Index as of Mar 26 was at $224.50/mt for propane and butane, down $32.75/mt and $42.75/mt respectively from Mar 18. Several cargoes for first-half May delivery were reportedly traded last week. About four pure propane cargoes and one propane-rich cargo seemed to have been sold.　

FOB Middle East

The expected April CP was at $201/mt for propane and butane as of the morning on Mar 27. One trader that had term supply commitments to India was seeking a 44,000mt 50:50 cargo for April loading. This was because LPG demand for cooking in India surged due to a lockdown of cities throughout India following the COVID-19 outbreak. Apart from that, Vitol issued a semi-term buy tender on an FOB basis that would close on Mar 30 at 18:00 hours Singapore time with offers valid until Mar 31. Through the tender, Vitol was looking for a 44,000mt 50:50 cargo per month for June to December loading.　

Asia Pressurized Market

For FOB South China, some refrigerated cargo importers apparently offered April loading at a premium in the mid $50'/mt to the $60's/mt to the April CP. Meanwhile, some traders were expected to have room to buy early April loading. For CFR Vietnam, one importer from Haiphong was interested to enter talks for April delivery at a premium of $105/mt to the April CP.

Sample Report