US Gulf-to-Asia chem freight rates rise $10/tonne on higher traffic

08 November 2013 19:53  [Source: ICIS news]

HOUSTON (ICIS)--US Gulf-to-Asia chemical freight rates rose $10/tonne (€7.4/tonne) this week on increased traffic from year-end momentum, brokers said on Friday.

Rates increased on shipments of 5,000 tonnes to $95-100/tonne from $85-90/tonne previously.

On 2,000-tonne shipments, rates rose to $115-125/tonne from $105-115 previously.

This is the sixth increase on the US Gulf-to-Asia route since late June. The latest SPI Marine report called the route buoyant and “very active with China’s appetite for product remaining firm".

SPI said rates should remain firm through the end of the year because of strong contract business and “higher than normal” spot activity.

The SSY Base Oil Report said the route has been busy from aromatics and glycols traffic.

($1 = €0.74)

By: Lane Kelley
+1 713 525 2653

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