06 October 2013 12:13 [Source: ICIS news]
BERLIN (ICIS)--An earlier-than-usual start to the traditional fourth-quarter rundown in US inventories has perked up the chemical tanker freight market, a shipping industry source said on Sunday.
US exports to Asia and Latin America in particular are breathing some life into a global market that has otherwise been difficult for shipping companies, the source said on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting.
September may have been the "worst-ever month" for business, the source said.
The US exports catching attention include ethylene dichloride (EDC), monoethylene glycol (MEG), and paraxylene (PX), the source added.
Styrene has also come into the freight picture to some extent, the source said.
A lack of ships arriving in the US is tightening up the freight market, the source noted.
The EPCA meeting runs from 5-9 October.
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.
|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|
Asian Chemical Connections