Mideast April freights to northeast Asia rise above $60/tonne

28 March 2011 04:56  [Source: ICIS news]

SINGAPORE (ICIS)--Freight rates for chemical shipping from the Middle East to northeast Asia have risen to above $60/tonne (€43/tonne) on tight availability of ships in the Middle East, a shipowner said on Monday.

The shipowner based in southeast Asia said a cargo of 15,000 tonnes of feedstock chemical was booked over the weekend from the Middle East to northeast Asia at $54-61/tonne for loading in the second half of April.

Freight rates for such movements are expected to stay strong because of the tight tonnage situation in the Middle East, said a source close to the company that booked the cargo.

($1 = €0.71)

By: Lester Teo

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