US Gulf-Asia chem freight rates drop again on sluggish New Year

07 February 2014 19:22  [Source: ICIS news]

HOUSTON (ICIS)--US Gulf-to-Asia chemical freight rates dropped $5/tonne for the second time this year from sluggish spot activity, brokers and shipping sources said on Friday.

Rates fell on shipments of 5,000 tonnes or more to $85-90/tonne from $90-95/tonne previously. Rates fell on 2,000-tonne shipments to $110-120/tonne, from the prior $115-125/tonne.

SPI Marine said the route was sluggish in January because of the pending Chinese New Year that began on 31 January. SPI said the China event "tends to slow down activity in the weeks leading up to these holidays in Asia."

The SSY Base Oil report said most US shipping markets, including the route to Asia, have been subdued, with freights "largely notional for the time being."

By: Lane Kelley
+1 713 525 2653

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