20 January 2012 02:40 [Source: ICIS news]
SINGAPORE (ICIS)--Shipping freights for crude palm oil (CPO) from southeast Asia to the west coast of India and Pakistan fell because of weak demand and the ample availability of vessels, a palm oil shipowner said on Friday.
“Palm oil charterers are pushing for low $30s/tonne freights for prompt-to-first-half February shipments of CPO to [the] west coast of India, but we are holding firm at the mid-$30s/tonne level to offset [the] stronger bunker fuel prices,” said the major shipowner.
Bunker fuel prices have increased by $39-49/tonne (€30-38/tonne) since 29 December 2011, according to market sources.
Shipping freights for 10,000-15,000 tonnes of CPO from southeast Asia to the west coast of India and Pakistan were last assessed at $36-38/tonne on 13 January, ICIS data showed.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections