Transatlantic westbound freight rates soften on sluggish activity

27 September 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Freight rates for 5,000 tonnes of easy chemicals along the transatlantic westbound route have decreased by $2/tonne this week on sluggish shipping activity, according to sources on Friday.

Rates decreased from $40-45/tonne (€30-33/tonne) to $38-43/tonne to move 5,000 tonnes from Rotterdam to the US Gulf.

“Business has been even slower than usual this week. There’s no pygas [pyrolysis gasoline] or BTX [benzene toluene xylene] going over. People are trying to fix benzene but the arbitrage is very small and some fixtures have failed,” one source said.

“The last week has been terrible. Movements of pygas are on hold for the next one to two months as the US is too long on pygas. Some traders don’t expect to ship any pygas to the US until next year,” another source said.

($1 = €0.74)

By: Sarah Trinder
+44 20 8652 3214

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