South Korean ports congested on worsening weather in northeast Asia

06 March 2013 04:18  [Source: ICIS news]

SINGAPORE (ICIS)--At least three ports in South Korea are currently congested because of the worsening weather conditions in the northeast Asian region, a shipbroker said on Wednesday.

“There is congestion in [South] Korean ports such as Daesan, Yeosu and Ulsan because of bad weather,” the shipbroker said.

Ports in northern China are also understood to be congested, as heavy fog – which is typically associated with the spring season – continues to slow down operations.

Vessels in northeast Asia will likely miss their scheduled laytime as a result of the bad weather and this may impact near-term vessel availability, according to another shipbroker.

“It looks like ship supply will be tight until mid-April,” the shipbroker added.

Laytime refers to the time permitted for the ship to load and unload its cargoes.

Freight rates from South Korea to Tianjin, Ningbo and Taiwan were heard at $30-32/tonne (€23-25/tonne) for 5,000 tonne vessels for the week ended 6 March.

($1 = €0.77)

By: Muhamad Fadhil
+65 6780 4356

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