S Korea-China freight rates soften on weak chemical cargo demand

12 June 2013 10:40  [Source: ICIS news]

SINGAPORE (ICIS)--Freight rates from South Korea to China have declined by $1-2/tonne this week because of weak demand for chemical cargoes in northeast Asia, shipping sources said on Wednesday.

From South Korea to the Chinese ports of Tianjin and Ningbo, and to Taiwan were heard at the low-$20/tonne (€15/tonne) levels for 5,000-tonne vessels, they said.

“No business, no demand. Very poor [business] these days,” said a South Korean charterer.

Ports in South Korea are also less congested because of weakening shipping activity, another shipping source said.

“Ports are not so busy. Ships can come and go,” said the Seoul-based source.

($1 = €0.75)

By: Muhamad Fadhil
+65 6780 4356

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