Kpler LPG (Panama Canal Voyages Analysis)

 

Originally Released on 26 October 2017
Vessels
Americas
This week, we are witnessing 1 VLGC heading to FE via Cape of Good Hope:
  • Shell’s Anderida early track is indicating a voyage through the long route. She is signalling for SGP Area, ETA 23-Nov.
Helios LPG’s Cheyenne, ex- Marcus Hook, is signalling for Terneuzen, ETA 29-Oct. 

Solvang’s Clipper Saturn, ex- Marcus Hook is heading to discharge at Sines, ETA 1-Nov.

P66’s Clipper Vanguard, ex-Freeport, completed her maiden voyage by discharging at Chorrillo and is now signalling for Balboa Anchorage, ETA 2-Nov.

Petredec’s Cambridge, previously handling chemical cargo, is crossing the Atlantic to load an LPG cargo from Bahia Blanca, ETA 30-Oct.

Middle East

Pertamina’s Pertamina Gas 1, ex-Asaluyeh, is expected to discharge at Indonesia by early November.

TPL’s Everrich 10 loaded at BIK and is signalling for Fujairah, ETA 31-Oct. Her exact destination is yet to be confirmed.

 

Europe

BP’s British Councillor, ex-Enterprise, to discharge at Terneuzen, ETA 21-Oct.

Australia

Clermont has been fixed by BP to lift a cargo out of NWS to FE. She is expected at NWS on 3-Nov.

Africa

Total’s Hellas Gladiator is currently loading at Bonny Island.

Total’s Hellas Hercules is expected to load at Escravos, ETA 3-Nov.

Chevron’s Hellas Glory completed her load at Escravos. Her exact destination is yet to be confirmed.

BW’s Bw Brage completed her load at Soyo and is now signalling for SGP Area, ETA 15-Nov.

Interesting STS

China Peace’s Lpg Scorpio, ex-Das Island, discharged her cargo via STS with AMPTC’s Gas Beauty I at Suez Anchorage.

Shell’s Ns Frontier, ex-Nederland, discharged the rest of her cargo via STS with Siamgas’ Ming Ming at Nipah Anchorage and is signaling for Nederland, ETA 26-Nov.

Borealis’ Navigator Aurora discharged her cargo via STS with Geogas’ Surville at Dakar Anchorage and is now signalling for Marcus Hook, ETA 1-Nov.

 

Neo Panama Transits New Feature

Since its expansion in June, 2016, the Neo Panama Canal has changed the market dynamics by allowing LPG vessels to significantly shorten their voyages to FE.Kpler is constantly improving its LPG platform, this time by bringing transparency on the voyages through the Panama Canal. The new feature reveals the voyages through the Panama Canal, providing the unique opportunity to reveal the commercial history of each cargo and the individual strategy of each player.

Kpler data reveal a 70% growth of the LPG carriers passing through the Panama Canal from 2016 to 2017, with an average of 37 vessels per month in 2017 compared to 22 vessels in 2016. Looking at Aug. and Sept. 2017, the number of vessels crossing the Canal was bellow the average, due to the delays caused by the Hurricane Harvey, as well as the strategy of certain players to take the long route in order to reap higher profits from higher future prices.

LPG – LNG battle for the Neo Panama 

Recently the Authorities announced changes on the Panama Canal operation. Starting from September, changes have been implemented on the tolls the Booking and Cancellation fees.The Panama Canal Authorities proposed an increase in booking slots available for LNG carriers to transit the Canal. In addition, the market expects the Authorities to allow LNG carriers to enter the first lock in the dark. LNG carriers currently make up a 9% of total capacity, however slot availability is currently proving a challenge for LPG owners.
Kpler data reveal a decrease in the number of VLGCs crossing the Panama Canal since the beginning of 2017, where an average of 30 VLGCs (Jan-May 2017 period) has dropped to 20 VLGCs on average for Jun-Oct period.

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