NE Asia freight rates stable but shipowners eye higher margins

24 July 2013 04:51  [Source: ICIS news]

SINGAPORE (ICIS)--Freight rates for intra-northeast Asia routes were stable after Typhoon Soulik dissipated but charterers may increase them in the coming weeks in a bid to improve margins, shipping sources said on Wednesday.

“We are still hearing freight rates as stable. Prices were falling a lot in June,” a Japanese shipbroker said.

However, as there is an uptrend during the typhoon season owners are reluctant to reduce prices, the shipbroker added.

“The owners want higher margins. They will try to keep rates at current levels and push for higher [prices],” a South Korea-based shipbroker said.

The typhoon hit northeast Asia in mid July killing several people in China and Taiwan.

Freight rates from South Korea to the Chinese ports of Tianjin and Ningbo, and to Taiwan were assessed at the low-to-mid $20/tonne (€15/tonne) levels for 5,000-tonne vessels for the week ended 19 July, according to ICIS.

($1 = €0.76)

By: Muhamad Fadhil
+65 6780 4356

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