Chemical Tanker Shipping Report Methodology
ICIS assesses freight rates for chemical tanker shipping in Europe, Asia-Pacific and the US Gulf, as follows:
|
Region
|
Assessment name
|
Type
|
Freq
|
Units
|
Also
|
Pubs
|
Code
|
|
Europe
|
Rotterdam/West Coast Italy
|
Spot
|
W
|
US$/MT
|
–
|
1
|
(db code)
|
|
Europe
|
West Coast Italy/Rotterdam
|
Spot
|
W
|
US$/MT
|
–
|
1
|
|
|
Europe
|
Constantza/Adriatic
|
Spot
|
W
|
US$/MT
|
–
|
1
|
|
|
Europe
|
Kotka/Rotterdam
|
Spot
|
W
|
US$/MT
|
–
|
1
|
|
|
Europe
|
Rotterdam/US Gulf (2,000 tonnes)
|
Spot
|
W
|
US$/MT
|
–
|
1,2
|
|
|
Europe
|
US Gulf/Rotterdam (2,000 tonnes)
|
Spot
|
W
|
US$/MT
|
–
|
1,2
|
|
|
Europe
|
Rotterdam/US Gulf (5,000 tonnes)
|
Spot
|
W
|
US$/MT
|
–
|
1,2
|
|
|
Europe
|
US Gulf/Rotterdam (5,000 tonnes)
|
Spot
|
W
|
US$/MT
|
–
|
1,2
|
|
|
Europe
|
Rotterdam/Taiwan
|
Spot
|
W
|
US$/MT
|
–
|
1
|
|
|
Europe
|
Rotterdam/Mumbai
|
Spot
|
W
|
US$/MT
|
–
|
1
|
|
|
Asia
|
Al Jubail to India (west coast) – 5,000/10,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
(db code)
|
|
Asia
|
Al Jubail to Singapore – 5,000/10,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Al Jubail to China Main Port – 5,000/10,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Singapore to Jakarta – 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Singapore to Port Klang - 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Singapore to Philippines- 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Singapore to Bangkok- 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Southeast Asia to India (west coast) – 10,000/15,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Northeast Asia to India (west coast) – 2,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Tianjin – 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Ningbo– 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Taiwan– 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Zhuhai– 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Bangkok– 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
–
|
3
|
|
|
Asia
|
Korea (Ulsan) to Singapore– 1,000/3,000/5,000 tonnes
|
Spot
|
W
|
US$/MT
|
-
|
3
|
|
Publications referenced above:
- Weekly Chemical Tanker Shipping Report (Europe) – Friday
- Weekly Chemical Tanker Shipping Report (Americas) – Friday
- Weekly Chemical Tanker Shipping Report (Asia Pacific) – Friday
Methodology last updated:
14 February 2011
Recent changes to this methodology
|
Date
|
Assessment
|
Code
|
Change
|
|
14-Feb
|
Al Jubail to Bangkok – 6,000 tonnes
|
|
Delete quote
|
|
|
Korea to Shanghai – 2,000 tonnes
|
|
Delete quote
|
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ICIS continuously develops, reviews and revises its methodologies in consultation with industry participants. Product specifications and trading terms and conditions used aim to reflect typical working practices prevalent in the industry.
General methodology
ICIS Chemical Tanker Shipping reports are designed to provide a guideline for freight rates in the chemical tanker shipping sector. The reports concern only liquid chemical cargoes: gases and dry cargoes are not represented.
Each report provides an anonymous list of recent fixtures and enquiries, as well market commentary on the main areas covered by each report.
Freight Rate Assessments published in the ICIS pricing Chemical Tanker Shipping Reports are derived from weekly interaction with as broad a cross-section of the market as possible. Regular interaction is maintained with vessel owners, shipbrokers, and charterers so as to keep abreast of the latest market developments. While clean fixtures confirmed with both the vessel owner and charterer or charterer’s broker are the preferred source of guidance in assessing rates, partially confirmed fixtures, reported fixtures, and rumoured business are also applied in the assessment process, at the editor’s discretion.
Assessment Window
Weekly spot assessments are based on information gathered through the working week to close of business on Fridays:
- 1700 hours in London (London time)
- 1700 hours Houston (US central time)
- 1730 hours in Singapore.
Note that information received after the relevant close cannot be used for assessment purposes, nor can a correction be issued based on subsequently received information.
Assessed Periods
ICIS generally considers fixtures and enquiries for cargoes loading up to six weeks following the date of publication.
Standard spot cargo size
European freight rates assessments are based on a parcel of 2,000 tonnes of an Easy Chemical, typically solvents, aromatics, alcohols or caustic soda. They represent an IMO III category product which does not require any special form of stowage, heating or sensitivity.
Transatlantic freight rate assessments are provided for cargoes of 2,000 and 5,000 tonnes between Rotterdam and the US Gulf Coast, both westbound and eastbound.
Freight rates between Rotterdam and the Asia Pacific region are based on a parcel of 2,000 tonnes of an Easy Chemical.
Asian freight rates assessments are based on an Easy Chemical parcel ranging from 1,000 to 15,000 tonnes for prompt shipment on a fixed route. Products are typically aromatics, solvents, alcohols and oleochemicals. It represents an IMO II/III category product which does not require any special form of stowage, heating or sensitivity. Freight expressed in USD/MT.