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Editor James Mills, james.mills@icis.com
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Chemical tanker shipping on most routes to, from and within Europe remained busy and the pace of enquiries increased. Freight rates held mostly steady, although some weakness in the Mediterranean was apparent.
A fixture involving a 24,000-tonne cargo of urea ammonium nitrate for export to the US Atlantic coast reflected the steep increases in Baltic freight rates since thick winter ice set in. Similar cargoes were fixed a few months ago at levels in the low $20s/tonne but a new voyage from Sillamae was agreed at a rate at least $10/tonne higher.
Cargoes of blending components for motor fuels were the subject of a spate of new enquiries in northwest Europe and the Mediterranean, as well as several fixtures.
Sales of chemical cargoes to buyers in East Asia accelerated over the week following the lull of the lunar new year holiday period.
Bunker fuel prices were quoted higher on Friday than a week previously. IFO380 was trading at prices around $449.50/tonne FOB Rotterdam, up by around $4/tonne over the week. LSO380 prices were around $460/tonne FOB Rotterdam at the end of Friday, $2.50 higher than a week before.
In other news, Somali pirates released the Singapore-flagged chemical tanker M/V Pramoni after a ransom was paid , the European Union Naval Force Somalia said on Friday. The 20,000-dwt (deadweight tonnes) ship was hijacked in the Gulf of Aden on 1 January en route to Kandla, India, with a chemical cargo of around 15,000 tonnes.
A decision from the High Court for England and Wales last week, relating to a different case of piracy, noted that payment of a ransom was not illegal under English law. Mr Justice David Steel said that payments of ransom may encourage piracy but added that to ensure the safety of the crew “the only option is to pay the ransom”. The case involved insurance claims surrounding the seizure by Somali pirates of another chemical tanker, the Bunga Melati Dua, in August 2008.
Odfjell said it would pay the Korean company SLS Shipbuilding $33.5 million for a 51,000-dwt (dead weight tonnes) product tanker. The International Maritime Organisation class 3 vessel is to be delivered in mid-April.
NORTH SEA
Steady contract business kept ships moving between northwest European ports, but there were few enquiries from charterers for spot cargoes. The region was well supplied with tonnage, but rates were mostly unchanged.
BALTIC
Freight rates were again quoted at levels that take severe ice conditions into account. Charterers enquiring about cargoes of lubricants and oil products found vessel space had tightened.
NWE/MED
Rates in the mid-to-high €20s were reported for a 4,800-tonne cargo of ETBE and a 3,000-tonne cargo of paraxylene on the southbound European route, prompt and in March.
Brokers said shipowners were reluctant to move tonnage to the Mediterranean because of expected difficulty in finding cargoes for return voyages. Brokers reported difficulty in obtaining quotes for a 6,000-tonne cargo of pyrolysis gasoline to load at Dunkerque in early March destined for Italy.
MED/NWE
The northbound European route remained sluggish, with few enquiries and no fixtures reported. Owners continued to chase thin business, which contributed to the impression that rates were under downward pressure.
X-MED
Shipbrokers in the Mediterranean complained that rates for voyages within the Mediterranean were subject to downward pressure, with charterers driving hard bargains.
Three cargoes of Libyan methanol were heard fixed for Mediterranean ports, with a rate of €18-19/tonne reported for 5,000-6,000 tonnes destined for France. Brokers suggested that similar rates would apply to the two cargoes fixed for delivery to Italy and Greece.
A 5,000-tonne March cargo of MTBE was also fixed from Malta to Greece, with a lump-sum rate of €75,000 reported.
Charterers made enquiries for cargoes of esters to various ports in the Mediterranean. One charterer proposed a rate of around $20/tonne for shipping 2,000 tonnes of FAME from the French Mediterranean to the Adriatic coast of Italy.
+++ UK/NWE +++
FIXTURES:
3,000 tonnes FAME ARA/Whitegate 1-5 March RNR
ENQUIRIES:
5,000-6,000 tonnes Alkylate Le Havre/ARA or Thames 26-28 February
3,900 tonnes Base Oils Le Havre + Fawley/Uddevalla 7-9 March
2,000 tonnes Biodiesel Amsterdam/Grangemouth 5-6 March
2,000 tonnes Biodiesel Amsterdam/Grangemouth 12-14 March
4,000 tonnes BTX Leixoes/Rotterdam 5-7 March
5,000 tonnes Caustic Soda Rafnes/Antwerp 8-10 March
1,500 tonnes FAME Dunkerque/Le Havre early March
1,800 tonnes FAME Dunkerque/Lorient 8-12 March
1,800 tonnes FAME Dunkerque/Le Havre early March
2,100 tonnes FAME Hamburg/Bordeaux end-February-early March
6,000 tonnes FAME Hamburg/Rotterdam ppt
1,100 tonnes FAME Hamburg/Le Havre 26-27 March
2,500 tonnes Fuel Ethanol Ventspils or Liepaja/Rotterdam 15-20 March
1 360 tonnes Industrial Ethanol Rotterdam/Dagenham 4-6 March
6,000 tonnes Naphtha Mongstad/ARA 1-3 March
12,000 tonnes Pygas Gonfreville/ARA 1-12 March
4,000 tonnes Raffinate Tees/ARA ppt onwards
4,000 tonnes Reformate Donges/ARA 1-3 March
4,000 tonnes Reformate Benzene (HC) Port Jerome/Rotterdam 3-5 March
2,000 tonnes Styrene Monomer Antwerp/Fawley 8-10 March
5,000 tonnes Sulphuric Acid Aviles/Setubal end-February-early March
+++ BALTIC +++
FIXTURES:
N/A
ENQUIRIES:
15,000 tonnes Gasoil St Petersburg/UK 5-6 March
4,500 tonnes Lubes Gdansk/Hull + Antwerp 3-6 March
2,000-2,800 tonnes Lubes Gdansk/Hull or ARA 3-6 March
12,000 tonnes Naphtha Kaliningrad/options 27-28 February
10,000-12,000 tonnes Pygas ARA/Paldiski 25-27 February
4,000 tonnes Caustic Soda Solution Gdansk/Ravenna 1-15 March
+++ NWE/MED + BLACK SEA +++
FIXTURES:
4,800 tonnes ETBE ARA/Spanish Med 3-5 March mid-€20s/tonne
3,000 tonnes Paraxylene Rotterdam/Algeciras end- February €27-28/tonne
ENQUIRIES:
6,200 tonnes 2 gr Base Oils Rotterdam/Gebze ppt onwards
4,050 tonnes 7-9 gr Chems ARA/Barcelona + Genoa + La Goulette ppt onwards
3,000 tonnes Base Oils Gdansk/Gebze 1H March
4,050 tonnes Chems ARA/Barcelona + Genoa + La Goulette ppt onwards
1,000 tonnes Easy Chems Rotterdam/Western Med early March
5,800 tonnes FAME Dunkerque/Fos + Lavera 2-5 March
2 500 tonnes FAME Rotterdam/Livorno ppt onwards
3,000 tonnes FAME Rotterdam/Livorno 1-4 March
4,000-6,000 tonnes Gasoil Ventspils/Laayounne + Dakhla ppt onwards
6,000 tonnes Pygas Dunkerque/Porto Torres 5-7 March
5,000-7,000 tonnes Vegoil Rouen/Livorno 6-7 March
+++ MED + BLACK SEA/NWE +++
FIXTURES:
N/A
ENQUIRIES:
5,500 tonnes Base Oils Algeciras/Leixoes 10-15 March
2,500-3,000 tonnes Bioethanol Mersin/Immingham 15-20 March
7,500-8,000 tonnes Palm Oil Products Central Med/Continent or Denmark 1H March
5,000 tonnes Styrene Monomer Tarragona/Terneuzen + Rotterdam 10-12 March
2,500 tonnes Xylene Algeciras/Leixoes ppt onwards
+++ INTER-MED +++
FIXTURES:
6,000 tonnes CPP Fos/2 ports Italy March dates €105,000 lps
5,000-6,000 tonnes Methanol Marsa el Brega/Fos early March €18-19/tonne
5,000 tonnes Methanol Marsa el Brega/Aspropyrgos 12-14 February RNR
5,000-6,000 tonnes Methanol Marsa el Brega/Livorno early March RNR
5,000 tonnes MTBE Malta/Aspropyrgos March dates €75,000 lps
ENQUIRIES:
1,600 tonnes Biodiesel Ravenna/Taranto 25 February-2 March
5,000 tonnes Bitumen Livorno or Taranto/Alicante +/or Algeria 22-24 Feb
5,000 tonnes Bitumen Tarragona/Black Sea March dates
3,000 tonnes Caustic Soda Constantza/Sea of Marmara mid- March
3,000-4,000 tonnes Caustic Soda Constantza/Sea of Marmara 2-4 March
3,000-4,000 tonnes Caustic Soda Tarragona/Seville ppt onwards
2,000-3,000 tonnes Chems Kavkaz/Marmara or Yumurtalik 15-18 March
2,000 tonnes Easy Chems Algeciras/Gebze 26 February onwards
6,000 tonnes ETBE Fos/Taranto + Milazzo 1-3 March
6,000 tonnes ETBE Fos/Castellon 10-14 March
2,000-4,000 tonnes FAME Genoa/Algeciras 5-20 March
1,750 tonnes FAME Sete/Fos ppt
1,750 tonnes FAME Sete/Fos ppt onwards
3,000 tonnes FAME Vasto/Fos 1-5 March
4,300-4,500 tonnes Gasoil Novorossyisk/Sea of Marmara 3-7 March
3,000 tonnes Isopropyl Alcohol Poti/Malta 15-20 March
2,300 tonnes Lubes Algeciras/Gemlik 1-10 March
4,000 tonnes Lubes Livorno/Gebze 17 February-4 March
4,500-5,000 tonnes MTBE Fos/Aspropyrgos ppt onwards
5,000 tonnes MTBE Marsaxlokk/Aspropyrgos 27 February-1 March
1,000 tonnes Orthoxylene Haifa/Genoa 3-7 March
1,200 tonnes Palm Stearin Barcelona/Algiers 8-9 March
1,500 tonnes Styrene Monomer Tarragona/Sea of Marmara ppt onwards
3,000 tonnes Sunflower Oil Mariupol/Sea of Marmara 10 March onwards
1,000-1,200 tonnes UAN Egyptian Med/Tunisia ppt-10 March
5,000-6,000 tonnes Vegoil Bizerte/Casablanca mid- March
3,000-3,150 tonnes Vegoil Black Sea/Ravenna 22-27 March
10,000 tonnes Vegoil Black Sea/Middle East Gulf mid- March
3,000-3,150 tonnes Vegoil Kherson/Poti 13-15 March
3,000 tonnes Vegoil Novorossyisk/Italy or Spain 10-15 March
5,000-6,000 tonnes Vegoil Tunisia/Morocco 10-15 March
WESTBOUND:
A 24,000-tonne UAN cargo was booked from the Baltic to the US Atlantic coast at a rate in the $30s/tonne, perhaps even the mid-to-high $30s/tonne, with end-February loading. Ice in the Baltic began pushing up freight rates in early February and the latest fixture gave some idea of the extent of the increases. A few months ago, a rate in the low $20s/tonne was applied for a 25,000-tonne UAN cargo on a similar route.
A charterer sought quotes on a 20,000-30,000-tonne cargo of UAN from the Baltic to several ports on the Pacific coast of Mexico and the US.
A February naphtha cargo was fixed from Portugal to the US Gulf in the mid-to-high $30s/tonne and brokers reported an enquiry for a similar cargo from Portugal to the US Atlantic Coast in March.
EASTBOUND:
Traffic on eastward routes across the Atlantic was slower, dominated by biodiesel and vegoil cargoes from South America. Freight rates remained steady and the upward pressure noted earlier in February was no longer in evidence.
FIXTURES:
8,000 tonnes Fuel Ethanol New York/ARA 2H February low to mid-$50s/tonne
14,250 tonnes Biodiesel Argentina/Italy 7-8 March RNR
5,000 tonnes Biodiesel Argentina/Rotterdam 5-6 March RNR
15,000 tonnes Soy Bean Oil Argentina/Egypt 23 February RNR
15,000 tonnes Sunflower Oil Argentina/ARA 20 March RNR
18,000 tonnes Naphtha Leixoes/USG 22-24 February mid-high $30s/tonne
24,000 tonnes UAN Sillamae/Norfolk 22-28 February mid-$30s/tonne
ENQUIRIES:
4,000 tonnes Chems Rotterdam/San Antonio or Quintero ppt onwards
8,000 tonnes Easy Chems Barcelona/US East Coast 22-30 March
2,000 tonnes Lubes Gdansk/Guayaquil ppt onwards
14,000-16,000 tonnes Naphtha Leixoes/US Atlantic Coast 10-15 March
10,000-15,000 tonnes Pygas Tarragona/Houston 1-6 March
20,000-30,000 tonnes UAN Sillamae/Guaymas +/or Port Hueneme +/or Stockton +/or Portland 1-10 March
1,750 tonnes 3 gr Palm Oil Santa Marta/Rotterdam 15-20 March
5,000-8,000 tonnes Biodiesel Quebec/Black Sea 10-15 March
1,000 tonnes MMA Veracruz/Houston or ARA 1H April
NWE/ASIA-PACIFIC:
Enquiries were heard for cargoes of acrylonitrile, isopropyl alcohol and oxo alcohols from European ports to East Asia as chemical buyers there returned to the markets after lunar new year holidays.
Rates from Europe to East Asia were flat although it appeared that fewer vessels were open for eastbound trips than earlier in February.
NWE/INDIA:
Demand for base oils, finished lubricants and vegetable oils from India and neighbouring countries prompted new enquiries for northwest European and Mediterranean cargoes. Quotes were reported at stable levels for this business and prompt vessel space was available.
Charterers also proposed westbound cargoes on this route, including ethanol from Pakistan and linear alkyl benzene from India.
FIXTURES:
N/A
ENQUIRIES:
2,850-9,600 tonnes 3 gr Lubes Augusta/Jebel Ali + Sharjah 12-17 March
3,000 tonnes Acrylonitrile Aliaga/Bangkok 1-15 March
5,500 tonnes Base Oils Algeciras/Chittagong 5-15 March
5,500 tonnes Base Oils Algeciras/Chittagong 5-15 March
2,500 tonnes Base Oils Livorno/Mombasa 12-15 March
4,500-5,200 tonnes Base Oils Livorno/Mumbai + Fujairah 2H March
8,000 tonnes Base Oils Theodosia/Chittagong + Singapore 1H March
4,500-5,000 tonnes Base Oils West Med/Chittagong 10-15 March
3,000 tonnes Butanol Lavera/China 20-29 March
1,000-1,500 tonnes Chems Taiwan/Med ppt
2,000-3,000 tonnes Easy Chems ARA/China 2H March
2,000 tonnes Easy Chems Southern Spain/East Coast India 5-15 March
5,000 tonnes EDC Fos/Bandar Imam Khomeini any March
5,500-7,5,000 tonnes Ethanol Karachi/Gebze +/or Rotterdam 1-10 April
1,100-1,,600 tonnes Ethanol Karachi/Izmit end- March
3,000 tonnes Isopropyl Alcohol Poti/Hong Kong 25-30 March
1,000 tonnes Linear Alkyl Benzene Al Jubail/Izmit ppt onwards
1,500 tonnes Linear Alkyl Benzene Jawaharlal Nehru/Fredrikstad 20-25 March
5,500 tonnes Lubes Theodosia + East Med/Singapore early March
10,000-15,,000 tonnes Methanol +/or BTX Assaluyeh +/or Bandar Imam Khomeini/Mediterranean March dates
4,000-6,,000 tonnes Molasses Nikolaev or Alexandria/Middle East Gulf 1H March
3,000 tonnes Oxo Alcohols Lavera/China 20-30 March
1,000-2,000 tonnes Palm Oil Lahad Datu/Rotterdam ppt onwards
10,000-15,000 tonnes Pygas Tarragona/Far East early March
18,000 tonnes Sunflower Oil Ilichevsk/Jawaharlal Nehru + Mumbai 15-30 March
10,000 tonnes Vegoil Black Sea/Middle East Gulf or West Coast India end March
10,000 tonnes Vegoil Black Sea/Red Sea early March
10,000 tonnes Vegoil Black Sea/East Coast India mid- March
18,000-23,000 tonnes Vegoil Black Sea/India 2H March
10,000-12,000 tonnes Vegoil Black Sea/India or Middle East Gulf end-February-early March
15,000-18,000 tonnes Vegoil Ilichevsk/Bangladesh + East Coast India 2H March
+++ MISCELLANEOUS +++
FIXTURES:
18,000 tonnes Benzene Korea/USG 2H February $47/tonne
9,000 tonnes Benzene Korea/USG 2H February $49/tonne
12,000 tonnes Benzene Sikka/Al Jubail 24 February-2 March high $teens/tonne
25,000 tonnes Benzene + Toluene Korea/USG early March $45/tonne
5,000 tonnes Methanol Labuan/North China 25-28 February RNR
5,000 tonnes Paraxylene Kaohsiung/Xiamen 15-20 February $16/tonne
18,500 tonnes Sulphuric Acid Japan/Chile 1H March $58/tonne
18,500 tonnes Sulphuric Acid Japan/Chile 2H March $58/tonne
ENQUIRIES:
3,000-4,000 tonnes 1-2 gr Mustard Oil Kandla/Haldia ppt
1,900 tonnes 2 gr Base Oil Chennai/Trincomalee March dates
3,500-4,200 tonnes 2 gr BTX Borburata/Houston 12-14 March
2,000 tonnes Acetone Mab Ta Phut/Zhenjiang + Jiangyin 6 March
2,000 tonnes Base Oils Karachi/Sharjah 1-10 March
5,500 tonnes Base Oils Liepaja/Sudan 27 February-13 March
5,200 tonnes Base Oils Livorno/Tema 2H March
3,000 tonnes Base Oils Middle East/Singapore ppt onwards
3,,000 tonnes Base Oils Sharjah/Chittagong ppt onwards
3,000 tonnes Benzene Kikuma/Taiwan 15-23 March
19,000 tonnes Benzene Sikka/Al Jubail 7-20 March
6,000 tonnes Benzene Tuban/Al Jubail 10-15 March
3,800 tonnes Bitumen Bahrain/Kakinada ppt
5,000 tonnes Bitumen Tenerife or Spanish Med/West Africa March dates
5,000 tonnes Caustic Soda Karikal/Vizag end- March
14,000 tonnes Caustic Soda West Coast India/Bandar Imam Khomeini 26 February-10 March
3,000-4,000 tonnes CPP Mahshar/Fujairah ppt onwards
8,000 tonnes Easy Chems and/or Lubes Ulsan +/or Yosu/Mumbai 3-13 March
3,000 tonnes Ethanol Karachi/Luanda 11 March onwards
1,250 tonnes Ethanol Karachi/Ciwandan 1H March
10,000-15,000 tonnes Gasoil Bahrain/Bandar Imam Khomeini ppt
8,000 tonnes Gasoil Cochin/Male 4-8 March
6,000-8,500 tonnes Gasoil Cotonou/Takoradi + Tema 25-26 February
10,000 tonnes Gasoil Okinawa/Philippines 4-8 March
6,000 tonnes Gasoil Singapore/Kota Baru 9-10 March
7,000 tonnes Gasoil Singapore/Kota Baru 14-16 March
10,000 tonnes Gasoil Sriracha/Banjarmasin 17-20 March
4,000-6,000 tonnes Gasoil Ventspils/Laayounne + Dakhla ppt onwards
2,000 tonnes Linear Alkyl Benzene Al Jubail/Budge Budge ppt onwards
1,000 tonnes Linear Alkyl Benzene Chennai or Ennore/Ho Chi Minh 15-20 March
1,000 tonnes Linear Alkyl Benzene Jawaharlal Nehru/Durban 15-31 March
1,750 tonnes Linear Alkyl Benzene Mesaieed/Chennai 2H March
2,000 tonnes Linear Alkyl Benzene Qatar/Budge Budge early March
3,000 tonnes MEG Bandar Imam Khomeini/Mumbai ppt
10,000 tonnes Methanol Bandar Abbas/Shanghai 10 March onwards
5,000 tonnes Methanol Bandar Imam Khomeini or West Coast India/3 berths Batangas ppt
1,000- 800 tonnes Methanol Port Klang or Singapore/Go Dau ppt onwards
5,000 tonnes Methanol West Coast India/China main ports 20-28 March
3,000 tonnes Mixed Xylenes Chiba/Ulsan 19-23 March
3,000 tonnes Orthoxylene Kandla/Gresik 10-15 March
5,000 tonnes Orthoxylene Kandla/Zhuhai or Zhengjiang 6-10 March
6,000 tonnes Orthoxylene Kandla/Zhuhai or Zhengjiang 15-21 March
3,000 tonnes OX Kaohsiung/Changshu + Nanjing 8-12 March
2,000 tonnes Palm Acid Oil Pasir Gudang/Budge Budge end-February-early March
8,000-8,,500 tonnes Palm Oil Products East Malaysia/China early- March
8,000-10,000 tonnes Palm Oil Products Straits/East Coast India 13-18 March
6,000-8,,000 tonnes Palm Oil Products Straits/West Coast India 2H March
5,000-6,000 tonnes Palm Oil Products Straits/East Coast India 10 March
6,000 tonnes Palm Oil Products Straits/China March dates
2,000 tonnes Palm Oil Products Straits/Dar Es Salam end-February-early March
4,000-5,,000 tonnes Palm Oil Products Tarjun/East Coast India early March
10,000 tonnes Palm Oil Products Tarjun/China 10-15 March
8,000 tonnes Palm Oil Products Tarjun/Ulsan 20-25 March
4-5,000 tonnes Palm Oil Straits/Colombo 5-10 March
4,500-5,000 tonnes Paraxylene Bandar Imam Khomeini/China main ports 1H March
1,000 tonnes Phenol Singapore/Budge Budge early March
8,000 tonnes Pygas Assaluyeh /Jebel Ali 3-4 March
3,000 tonnes Refined Palm Oil Bandar Imam Khomeini/Mumbai 1H March
7,000-10,000 tonnes Reformate ARA/Durban 1-10 March
5,000 tonnes SN500 Base Oil Bandar Bushehr/Mombasa ppt
3,000 tonnes Styrene Monomer Chiba/China 16-20 March
3,000 tonnes Styrene Monomer Shuaiba/Kandla +/or China main port early March
3,500 tonnes Styrene Monomer Shuaiba/Southeast Asia or China early March
6,000 tonnes Sulphuric Acid Tuticorin/Budge Budge 1-3 March
3,000 tonnes Toluene Kaohsiung/Changshu + Nanjing 8-12 March
1,000 tonnes Toluene Ulsan/Mundra or Kandla end- February
4,000 tonnes Toluene Yosu/Jiangyin 16-23 March
1,000 tonnes Toluene + Phenol Singapore/Budge Budge 1H March
3,000 tonnes Vegoil Ilichevsk/Mersin 15 March
4,000 tonnes Vegoil Paranagua/Port au Prince 2H March
35,000-40,000 tonnes Vegoil South America/India or Iran 2H March
10,000-20,000 tonnes Vegoil South America or USG/East Coast India
5,000 tonnes Xylene Kaohsiung/Ningbo 5-10 March
5,000 tonnes Xylene Sriracha/China or Taiwan end- March
5,000 tonnes Xylene Ulsan/Nantong early March
5,000 tonnes Xylene Ulsan/Ningbo 26-30 March
3,000 tonnes Xylene Yosu/Qingdao 14-17 March
($1 + €0.73)
