Transatlantic eastbound rates drop in quiet market
Lane Kelley
17-Sep-2015
HOUSTON (ICIS)–Transatlantic eastbound chemical freight rates dropped $6/tonne this week in a quiet spot market, brokers said on Thursday.
Freight charges on 5,000-tonne cargoes fell to $64-69/tonne from $70-75/tonne previously.
The latest Odin Market report said that, while contract nominations remain at healthy levels, spot inquiries have dwindled lately.
“Rates are starting to come off for smaller parcels as owners attempt to fill out the remainder of their tonnage amongst a quiet spot market,” Odin said.
The transatlantic eastbound leg remains by far the strongest shipping route in the Americas, though. Rates for that trade lane have increased 59% since late August 2014, and for shipments up to 2,000 tonnes, rates have increased 42% over the same 12-month period, according to ICIS.
Much of the traffic includes chemical tankers headed from Houston to the port complex of Amsterdam, Rotterdam and Antwerp (ARA).
Rates on 2,000-tonne shipments headed east remained unchanged this week at $85-90/tonne.
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