EARNINGS FOR COASTERS REMAIN HEALTHY

摘要

The coaster market in Europe startedrnthe month on a firm note with abundantrncargoes being quoted and subsequentlyrngetting fixed. Both small and large coastersrngained ample employment with an almostrnequal split of the LPG and petchem trades.rnDelays at some of the European portsrnbecause of congestion also helped inrnkeeping the tonnage supply tight. However,rnas the month progressed, vessel supplyrnstarted to normalise, putting pressurernon the freight market. The spot rate for arn1,800 tonne LPG parcel within NorthwestrnEurope declined by 14% to $49 per tonnernover the previous month. Furthermore, firmrnbunker prices also eroded vessel earnings.rnHowever, these vessels still made goodrnamount of money ($14,850pd average inrnApril) compared with their bigger peers,rnwhich were actually burning cash in thernspot market.