LPG Interesting Moves (Released on 7 July 2016)

Vessels

Statoil’s MGC Knokke loaded in Mongstad on 5-Jul, and is heading to discharge in Newington on the East Coast of the U.S., ETA 15-Jul.

BP’s British Courage, who loaded in Soyo, discharged a partial cargo at Sines on 3-Jul. She is now drifting off the coast of Portugal with the remainder of her cargo.

Vitol’s BW Carina, who also loaded in W. Africa, is floating without a destination as well. She completed loading in Sanha on 3-Jun, and has since been sitting between Vietnam and Malaysia since 30-Jun.

Pertamina’s Pertamina Gas 1 , who usually remains in Indonesia, is ballasting toward Australia. Her trajectory indicates a loading in Westernport, ETA 10-Jul.

SK’s G. Symphony, who discharged a partial butane cargo in Mailiao on 24-Jun, is currently transferring the remainder of her cargo via STS to Berge Nantong at Nipah Anch.

S. Korean LPG Imports
S. Korea experienced a huge spike in imports in June, with the country accepting around 770kt of LPG.
The increase in imports largely comes from the port of Ulsan, which accounted for over a third of the volume. The increase in flows can be explained by growth in demand within the petrochemical sector:
SK Advance, a joint venture between SK, and Advanced Petrocehmical Co., opened a new PDH plant in Ulsan at the end of May.
Hyosung Corp. has also recently completed an expansion at their PDH plant in Ulsan.
Below are the figures for month-to-month S. Korean imports, as well as a breakdown of imports by terminal:
MTM South Korea Imports

 

Breakdown of S.Korean imports by port

 

Net Flows by Region (kMT)
Below is a comparison of net waterborne LPG flows between Q1 and Q2 of 2016:
Global Q1 vs. Q2 Flows

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