Transatlantic chem rates rise on tighter vessel space, biofuels

24 May 2013 19:12  [Source: ICIS news]

HOUSTON (ICIS)--Transatlantic chemical freight rates rose $2-3/tonne (€1.5-2.3/tonne) in both directions this week on tighter vessel space and a modest gain in vegoil and ethanol shipments to Europe, sources said on Friday.

Westbound rates on 5,000-tonne shipments rose to $43-48/tonne from the previous $40-45/tonne, largely on tight vessel space.

The latest SSY Base Oils report called the westbound leg “the most promising of all routes” in the world, with little May space available.

Rates for westbound cargoes of 2,000 tonnes or smaller remained unchanged.

Eastbound rates for shipments of 2,000 tonnes rose to $62-67/tonne from the previous $60-65/tonne, largely on an increase in vegoil and ethanol shipments to Europe, the Middle East and India, sources said.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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