Eastbound transatlantic chem freight rate rises on more traffic

23 August 2013 19:31  [Source: ICIS news]

HOUSTON (ICIS)--Transatlantic eastbound chemical freight rates on 5,000-tonne shipments rose slightly this week on a surge in cargoes from the US to Europe, brokers said on Friday.

Eastbound rates on 5,000-tonne shipments increased by $2-3/tonne to $40-45/tonne (€30-34/tonne) from the previous $38-42/tonne.

The increase came from a variety of chemical cargoes including lubricants, pyrolysis gasoline (pygas), ethanol, vinyl acetate monomer (VAM) and urea ammonium nitrate (UAN) headed to Rotterdam and other ports in Europe.

A 5,000-tonne VAM shipment from Houston to Rotterdam carried a freight rate of $45/tonne, a broker said.

However, the slight move up in freight rates may not lead to bigger increases soon.

“We are not expecting any material change in the weeks ahead,” said the most recent report from Eastport Global.

Odin Marine Group’s latest report said noise about styrene arbitrage should lead to some shipments to Europe in the coming weeks, but that the available space in the market would absorb the cargoes “without much pressure on freight rates”.

($1 = €0.75)


By: Lane Kelley
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index