CFR Far East
The CFR Japan market softened on increased selling interest, while prices for China delivery strengthened on a recovery in buying interest. The Japan Index stood at $717.25/mt for propane and $767.25/mt for butane. The China Index was assessed at $774.50/mt for propane and $824.50/mt for butane. For Japan delivery, the number of sellers offering 23,000mt propane cargoes for second-half September delivery in the spot market increased, gradually weighing on prices. However, market concerns over rising transportation costs for US-origin cargoes intensified toward the end of the week after a record-high winning price was heard in a Panama Canal transit slot auction. For China delivery, buying interest improved, with operators of PDH (propane dehydrogenation) plants in South China and North China each procuring non-US-origin cargoes for second-half September delivery.

　
FOB Middle East
With no clear timeline for the reopening of transit through the Strait of Hormuz, Middle Eastern gas producers continued to market cargoes via ship-to-ship (STS) operations or on a delivered basis. Kuwait Petroleum Corporation (KPC) was apparently heard to have sold a 44,000mt 50:50 cargo for Aug 25 to first-half September delivery into Chiba to a Chinese importer through a sell tender that had closed on Aug 13. In addition, KPC and an Abu Dhabi gas producer were also heard to have sold Middle East-origin cargoes to Indian importers. These producers were believed to have secured vessels capable of loading cargoes within the Persian Gulf and transporting them outside the Gulf for sale via STS operations or on a delivered basis.

　
Asia Pressurized Market
The pressurized cargo market remained weak. For South China loading, a Thai importer was reportedly offering August-loading cargoes and was seeking buyers. Meanwhile, for Southeast Asia loading, a Chinese petrochemical company sold a 2,500mt cargo from its refinery in Brunei through a sell tender. On the other hand, buying interest remained limited. Players in the Philippines and Vietnam largely refrained from procurement and maintained a wait-and-see stance. They did not appear to have been in a hurry to buy cargoes, as the September CP was expected to decline from the August CP. In Vietnam, sluggish domestic sales also acted as a factor weighing on buying interest.