20 November 2009 21:08 [Source: ICIS news]
HOUSTON (ICIS news)--Freight rates for chemical shipments from the US Gulf to Caribbean destinations fell on weakening demand, brokers said on Friday.
For shipments of 2,000 tonnes or less, prices dropped to $40-45/tonne (€27-30/tonne) from $50-55/tonne, sources said. Larger shipments are not tracked by ICIS.
One broker said there were a number of vessels open in the US Gulf, ready to make a run to the Caribbean, but that ships outnumbered the cargoes.
Another source surmised that the reason for the falloff was because of expectations that spot tonnage would grow due to an anticipated falloff in contract business in December.
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