06 July 2012 20:18 [Source: ICIS news]
HOUSTON (ICIS)--US Gulf to Asia chemical freight rates dropped again this week from continued low spot traffic, brokers said on Friday.
The drop by an average of $5.00-7.50/tonne (€4-6/tonne) was the fifth rate reduction this year. Spot chemical cargoes on the route have fallen following a year-end surge in shipments.
Rates on the USG-Asia route fell to $55-60/tonne on cargoes of 5,000 tonnes or larger, brokers said.
For smaller cargoes of 2,000 tonnes or larger, rates dropped to $65-70/tonne.
The route still maintains strong contract business, but spot traffic is weak, a broker said.
($1 = €0.81)
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