Shipping — Februar 2024
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Oeystein Kalleklev
@OKalleklev
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We'll meet again! Baltic LPG 1 index for the route Ras Tanura(Saudi Arabia) to Chiba (Japan) is mirroring the situation last year when we had a big slump at the start of the year and then a rally back to normal levels as illustrated by Gibson. -
The $10.571 per metric ton(pmt) jump in freight on Feb 20th was the 8th largest ever and in the current trading streak we have 3 out of the 20th largest jump in freight with BLPG1 index now recovered to ~$75pmt which equates to Time Charter Equivalent (TCE) earnings of $54,000/day.
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You should however Go West as there is a big premium for cargoes West of Suez (AG) compared to East of Suez (USGC), currently around $17.5pmt when adjusting for voyage distance, Panama costs etc
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VLGC-ratene til himmels
I begynnelsen av februar var det krise i LPG-markedet med VLGC-rater helt nede i 8.500 dollar dagen etter at spotratene var oppe i over 140.000 dollar dagen i september i fjor. Nå, en snau måned senere, er ratene mer enn seksdoblet. https://www.finansavisen.no/shipping/2024/02/21/8100572/vlcg-ratene-til-himmels -
"Less headlines about Panama canal congestion these days, but number of daily transits is still far below normal levels as illustrated by E.A. Gibson Shipbrokers Ltd. It’s still about three months to the rain season and water levels in Gatun Lake, the main freshwater supply, is far below normal levels with downward projections until June which will keep transit volumes low.
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Hence, with more VLGC now utilizing the canal, especially southbound for the laden leg from USGC to Asia, the price of skipping the line has started to increase again from around $300,000 at beginning of February to now around $750,000, although well below the sky high levels Oct/Nov last year when they approached $4m. https://twitter.com/OKalleklev/status/1760575727357849615
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Kort video - NVIDIA er lige kommet med et bragende godt regnskab. Et foreløbigt og flot regnskab fra Bavarian Nordic udløste en gevaldig handel i aktien. Derudover kommer Helge Larsen med en opdatering på shippingsektoren, herunder LPG, og så er der kommet et stærkt årsregnskab fra Trophy Games. https://www.proinvestor.com/boards/118879
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LPG: Poten 59,079 $.
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Godmorgen.
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Trenden i LPG-raterne fejler ikke noget. Nu mangler vi blot, at at aktiekurserne følger trop.
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USA: PROPANLAGRENE VAR 54,6M FAT FORRIGE UKE (56,9)
23.2.2024 05.59 • TDN Finans •
Oslo (Infront TDN Direkt): Propan/propylenlagrene i USA var på 54,6 millioner fat i forrige uke, mot 56,9 millioner fat uken før.Det viser tall fra amerikanske energimyndigheter (EIA) torsdag.
Videre var propan/propylen-nettoproduksjonen på 2,468 millioner fat pr dag, mot 2,483 millioner fat uken før.
Eksporten var på 1,911 millioner fat propan/propylen pr dag, mot 1,797 millioner fat pr dag uken før.
TDN
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BORR DRILLING: Fearnley kutter kursmålet til NOK 102 (108), gjentar kjøp. Evercore kutter til 95 (105), gjentar kjøp. SEB øker til NOK 87 (85), gjentar kjøp.
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BELSHIPS: Clarksons øker kursmålet til NOK 27 (22), gjentar kjøp.
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2020 BULKERS: SEB øker kursmålet kraftig til NOK 155 (90), gjentar hold.
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GOLDEN OCEAN: SEB øker kursmålet til NOK 120 (75), gjentar hold.
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Interview med shippinginvestor Morten Astrup https://www.proinvestor.com/boards/118945
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