USG-Asia chem freight rates jump on styrene traffic, tight space

30 August 2013 20:03  [Source: ICIS news]

HOUSTON (ICIS)--US Gulf to Asia chemical freight rates jumped $10/tonne (€7.60/tonne) this week on increased styrene traffic and tightening vessel space, shipping sources said on Friday.

Rates increased on shipments of 5,000 tonnes to $80-85/tonne from $70-75/tonne previously.

On 2,000-tonne shipments, rates rose to $100-105/tonne from $90-95/tonne previously.

Styrene traffic that pushed up rates on the Transatlantic route this week also had an impact on increases to the USG-Asia tradelane.

A 5,000-tonne styrene shipment from Lake Charles, Louisiana, to South Korea on the Amelia carried a freight rate in the low $80s/tonne, a broker said.

The latest report from Odin Marine Group said the Lake Charles styrene cargo had led owners looking for better returns to begin positioning vessels in the US Gulf and would have an impact on ships loading in the second half of September.

The most recent SSY Base Oil Report said heavy contract nominations for September had also tightened space and pushed freights up.

($1 = €0.76)

By: Lane Kelley
+1 713 525 2653

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