Posted - June 4, 2013 - Hellenic Shipping News Worldwide - (Bloomberg)
The liquefied petroleum gas shipping market faces a looming vessel
shortage in the Atlantic Ocean, according to Clarkson Plc (CKN), the
world’s largest shipbroker.
“The situation is becoming potentially dramatic in the Atlantic and the
real issue is whether charterers have fully grasped this,” London-based
Clarkson’s research unit said in a May 31 report. “Looking at the
anticipated requirements out of West Africa and Houston through June and
July, unless ships are ballasted from Asia, we could very soon see a
real shortage.”
Ballasting refers to sailing without cargo, often to get to regions
where rates are higher. Costs for transporting the fuel or petrochemical
feedstock advanced 67 percent to $67.88 a metric ton this year,
according to data from the Baltic Exchange in London. Demand is rising
amid record U.S. exports.
Source: Bloomberg
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