03 November 2008 15:53 [Source: ICIS news]
PARIS (ICIS news)--Shipping rates for ethanol from ?xml:namespace>
Speaking to ICIS news on the sidelines of the FO Licht World ethanol conference, the logistics firm said that as trade volume slowed shipping firms would compete more aggressively for cargoes, lowering their freight rates if necessary to win business.
“It’s better for shippers to have the cargo, even if it is not at such a good rate, rather than not to be running,” said the source.
Ethanol shipments from Brazil to Europe have been predicted by traders to fall going into the next year as Brazilian domestic demand grows and profit margins for selling into Europe fall.
“A couple of years ago it used to be the Brazilians coming to us,” said a European trader, “but now we have to go to them.”
Fuel ethanol freight rates are currently around $70-80/cubic metre for a 2,000 tonne cargo from
The conference runs from 3-6 November.
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