This week we are not witnessing any vessel heading to FE via the Cape of Good Hope. After 6 months of STS between Panama and Chorillo, Petredec’s Morston has finally crossed the Panama Canal and is signalling for Houston, ETA 19-Dec.
The following Ineos’ Ethane-dedicated vessels are on their to deliver their Ethane cargo to Europe:
- Js Ineos Invention is expected at Grangemouth by 20-Dec.
- Js Ineos Independence and JS Ineos Intuition are expected at Rafnes by 24-Dec and 27-Dec, respectively.
RIL’s VLEC Ethane Topaz loaded another ethane cargo at Morgans Point and is heading to India. She is expected at Dahej by 9-Jan.
Petredec’s Yamabuki, ex-Nederland, is currently discharging at Teluk Semangka.
With the end of the aforementioned voyage, Indonesia is expected to receive the following last cargoes for 2017:
After her USGC to S. America voyage, Bw Trade will now cross the Atlantic ocean to load a cargo out of Soyo, ETA 26-Dec.
Gyxis’ Pyxis Alfa is heading to load a cargo at Soyo, ETA 18-Dec.
Promise is heading to load a cargo at Biko, ETA 24-Dec.
Hellas Hercules is crossing the Strait of Malacca and is signalling for Escravos, ETA 8-Jan.
The Navigator Prominence (37,000cbm FR), a newbuild that speculatively ballasted to the West, has been fixed to Geogas ex NWE.
Grangemouth Exports Receive a Second Hit
INEOS has declared the first force majeure on the North Seas’ Forties Pipeline (also known as FPS) in decades, following the discovery of a widening hairline fracture along a portion of the pipe near Aberdeen. The FPS pipeline, which connects 80 fields in the N. Sea and has a capacity of 450 kbpd, is expected to be down for at least two weeks. Approximately 44% of total UK NGL production originates from five terminals (Flotta, Forties, Nigg, Norpipe and Sullom Vo), implying a significant reduction in their associated LPG production.
Looking at the Grangemouth installation, LPG exports decreased significantly starting from June. August is typically a month for North Sea maintenance; however this year the terminal has suffered from an extended period of field maintenance that ended in mid-November, pushing back several liftings. The UK Forties oil pipeline came as a second hit to the terminal, adding additional delays to liftings.
Grangemouth is a major supplier of Northwest Europe butane market. Kpler data reveal that Nederlands is the largest European purchaser, receiving 38% of Grangemouth’s total LPG volume, or 71 Kt, for 2017.
The UK LPG production limit will likely force European buyers to seek US waterborne LPG cargoes to meet the inflated winter heating demand.