US export cargoes thin in September - traders

03 September 2009 22:20  [Source: ICIS news]

HOUSTON (ICIS news)--US chemical export cargoes were absent in the market, shippers said on Thursday.

“It’s been really slow this week,” one trader said. “Chemical exports are basically closed until after the [Labor Day] holiday,” the source added.

But the shipping owners, brokers and traders are expecting a wave of cargoes to enter the market in the second half of September, traders said.

“We’re hoping we’ve seen the summer low spot, and, second-half September, we’ll see more cargoes available,” a broker/trader said.

Traders and brokers said the rates are unchanged due to thin US exports, adding that freight rates on several lanes are softening.

“US to Far East is loose on space,” one source said. “But the US rates are stable because not much is shipping out,” a source added.

Freight rates for 2,000 tonnes easy chemicals (not difficult to ship) going from the US Gulf to Asia Pacific were assessed in an $85-95/tonne (€60-67/tonne) spread, according to global chemical market intelligence service ICIS pricing.

($1 = €0.70)

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By: Judith Taylor
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