CFR Far East

　The CFR Far East market weakened, pressured by weak crude oil prices and increasing supply. The Japan Index stood at $884.25/mt for propane and $1,034.25/mt for butane, while the China Index was assessed at $982.25/mt for propane and $1,132.25/mt for butane. Sellers of pure propane cargoes emerged in the market, and multiple cargoes for second-half October delivery were concluded for both Japan and China delivery. While few buyers for second-half October delivery appeared to remain in the market, sellers of US-origin cargoes were still observed. There were also reports of a trader selling a full propane cargo for early-November delivery on a CFR Ningbo basis.

FOB Middle East

　 Some Middle East gas suppliers were moving to market spot cargoes through delivered-basis sales and ship-to-ship (STS) operations. QatarEnergy conducted a DES-based sell tender for 26,314mt of propane to be supplied through STS operations off India's west coast during Sep 24-28. The tender was reportedly awarded to a Middle Eastern trader. Kuwait Petroleum Corporation (KPC) also sold a 44,000mt 75:25 cargo for first-half October delivery through a DES-based sell tender to a South Korean importer. The cargo was reportedly destined for Vietnam.

Asia Pressurized Market

　 The pressurized LPG market came under downward pressure as spot availability for South China loading increased. Some sellers, including a Thai refrigerated cargo importer with storage tanks in Zhuhai and Shantou, were heard to have offered spot cargoes for October loading. On the other hand, importers in Vietnam and the Philippines showed some buying interest, although they remained cautious about procuring at elevated prices. Meanwhile, in Southeast Asia, a major Malaysian supplier appeared to have focused on supplying term cargoes and was not believed to have any spot cargoes available for sale.