ARA-China freight rates hold up in falling market

07 November 2008 14:55  [Source: ICIS news]

LONDON (ICIS news)--Shipping brokers dismissed chemical shipping freight-rate reductions of 25% along the Rotterdam-southeast Asia route on Friday.

“I have a proposal from ARA to China for 1,300 tonnes of easy chems at a rate of $120/tonne, which indicates that levels are not falling as some traders are speculating,” one broker said.

Freight rates between Rotterdam and Taiwan were confirmed at levels of $100-105/tonne (€79-83/tonne).

The market is inactive with few cargoes seen, as the dropping price of some chemicals was putting off prospective buyers, another broker said.

“Despite the downward trend it was yet to impact freight rates on the route, as owners were reluctant to reduce their rates,” the source said.

($1 = €0.79)

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By: Dan Horlock
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