Asian Chemical Connections
The Asia bulk chemical shipping industry will be challenging through 2012 because of stagnated freight rates, increased operating costs and oversupply of vessels amid a poor global economic outlook for petrochemicals.
Freight rates for prompt shipments of feedstock and specialty chemicals across key Asian routes in 2011 were largely stable to soft, triggered by a weak export market with no signs of recovery observed in the first quarter of 2012.
INSIGHT: Crude fall moves olefins margins, hits ethane advantage
"Prices tend to fall faster than they can be recovered so this is a difficult and uncertain time."
VIDEO: ICIS special report - impact of lower crude oil prices