Chemical freights stable on weak demand for prompt shipments
Demand for prompt shipments from the Middle East Gulf to Asia was soft this week, according to some shipping companies. Demand for vessel space for the second half of August from Middle East contract of affreightment (COA) charterers is healthy, leading to limited space for prompt shipments, a shipowner said.
No bookings for prompt shipments were heard this week as brokers were actively seeking vessel space for early August for prompt shipments from the Middle East Gulf to the Mediterranean/continents and northeast Asia.
Shipping activity for both contract and prompt shipments from the south to northeast Asia was stable, an Indonesian shipowner said. There was strong demand for shipments of 6,000-8,000 tonnes of sulphuric acid from eastern China to southeast Asia, the shipowner added.
Freights for prompt shipments of 6,000-8,000 tonnes caustic soda solutions from northern China to southeast Asia were quoted at $17-19/tonne, a shipowner said. However, some shipowners said bookings at these prices are not workable because of firmer bunker fuel prices and operating costs.
In the oleochemical sector, a fixture for 15,000-17,000 tonnes of palm oil from southeast Asia to the west coast of India for loading in early August was heard to be done at $42-44/tonne. Freights for this fixture were at $10-12/tonne higher than the assessed rates of $30-34/tonne, hence they are not reflective of the market. The charterers are hard-pressed to deliver cargoes, hence the fixture commanded a premium, according to a shipowner.
Several bookings for shipments of trans-pacific aromatics were heard this week, freights for 6,000-9,000 tonnes of aromatics from South Korea to US Gulf were stable at $54-56/tonne. Freights for 3,000-5,000 tonnes easy chemicals from the US Gulf to northeast Asia were quoted by a Singapore-based shipowner at around $60-62/tonne.
A Europe-bound fixture for 30,000 tonnes palm oil from southeast Asia was heard to be done at $92/tonne, according to a broker. Europe-bound freights are firm because of firmer bunker fuel values and premiums for transit at the Suez canal and insurance premiums for piracy risks, the broker added.
Bunker fuel (IFO180/380cst)
The prices of bunker fuel 180-cst and 380-cst are stronger in the week ended Thursday.
Prices in the Middle East are up by $15-19/tonne at $698-727/tonne FOB Fujairah.
Prices in southeast Asia have increased by $4/tonne to $677-688/tonne FOB Singapore.
Intra-northeast Asia
Fixtures:
NA
Enquiries:
3,000 tonnes Mixed xylenes, South Korea / Qingdao, 20-23 Aug
3,000 tonnes Benzene, Yeosu / Kaohsiung, 26-30 Aug
2,000 tonnes Styrene monomer, Daesan / Hong Kong, 14-17 Aug
2,000 tonnes Styrene monomer, Daesan / east China, 15-20 Aug
3,000 tonnes Orthoxylene, Kaohsiung / east China, 23-28 Aug
4,000 tonnes Phenol, Mailiao / east China, 5-25 Aug
1,000 tonnes Butyl acrylate, Mailiao / Ningbo, H1-Aug
2,000 tonnes Phenol, Kaohsiung / Nantong, 5-15 Aug
6,000 tonnes Phenol, Taiwan / Nantong, 10-20 Aug
Northeast Asia / southeast Asia
Fixtures:
NA
Enquiries:
4,000 tonnes Mixed aromatics, South Korea / Singapore, H1 Aug
6,000 tonnes Caustic soda solution, Longkou / Futong, 15-25 Aug
8,000 tonnes Caustic soda solution, Tianjin / Batangas, 20-25 Aug
1,000 tonnes Linear alkyl benzene, Nantong / Bangkok, early Aug
4,000 tonnes Automotive gasoline, Taiwan / Haiphong, 1-3 Aug
1,000 tonnes Acryolonitrile, Anping / Bangkok, mid-Aug
Southeast Asia / Northeast Asia
Fixtures:
5,000 tonnes Paraxylene, Kerteh / Taiwan, 10-14 Aug, $28/tonne
5,000 tonnes Paraxylene, Sri Ra Cha / east China, 26-30 July, $34/tonne
5,000 tonnes Toluene, Sri Ra Cha / south China, 20-24 Aug, $28/tonne
5,000 tonnes Methanol, Labuan / Taiwan, 6-10 Aug, $33/tonne
2,000 tonnes Styrene monomer, Singapore / east China, end July, $43/tonne
Enquiries:
1,500 tonnes Fatty alcohol, Batam / Shanghai, 16-20 Aug
1,000 tonnes Fatty alcohol, Batam / Zhangjiagang, end July to early Aug
5,000 tonnes Styrene monomer, Merak / Dongguan, 20-24 Aug
3,000-5,000 tonnes Base oil, Singapore / Zhenjiang, early Aug
10,000 tonnes Paraxylene, Tuban / Zhuhai or Ningbo, 23-27 Aug
8,500 tonnes Vegetable oil, Pasir Gudang / South Korea, end Aug to early Sep
3,000 tonnes Naphtha, Kemaman / South Korea, 15-18 Aug
20,000-22,000 tonnes Palm oil, East Malaysia / China, 5-20 Aug
12,500-18,000 tonnes Molasses, Thailand / Korea, 1-10 Aug
Northeast Asia / Middle East and India
Fixtures:
NA
Enquiries:
10,000-12,000 tonnes Sulphuric acid, Japan/east coast India, end Aug
3,000 tonnes Phenol, Mailiao / Iran, H1 Aug
2,000 tonnes Acetone, Mailiao / Iran, H1 Aug
Southeast Asia / Middle East and India
Fixtures:
14,000 tonnes Palm oil, southeast Asia / west India, early Aug, $35.50/tonne
15,000-17,000 tonnes Palm oil, southeast Asia / west India, early Aug, $42-44/tonne
Enquiries:
15,000-18,000 tonnes Palm oil, southeast Asia / west India and Pakistan, H2 Aug
Intra-southeast Asia
Fixtures:
10,000-13,000 tonnes Clean petroleum products, Singapore / Vietnam, end July, $150,000lps
6,000 tonnes Clean petroleum product, Singapore / Indonesia, early Aug, $92,000lps
Enquiries:
3,000 tonnes Base oil, Sri Ra Cha/Singapore, any Aug
10,000 tonnes Gas oil, Singapore / Surabaya, 12-14 Aug
3,000 tonnes Gas oil, Singapore / Pontianak, 23-25 Aug
4,000 tonnes Automotive gasoline, Singapore / Haiphong, 6-10 Aug
4,000 tonnes Automotive gasoline, Singapore / Haiphong, 16-20 Aug
5,000-6,000 tonnes Gas oil, Sri Ra Cha / Cambodia, 1-3 Sep
Middle East Gulf and India / Asia
Fixtures:
10,000 tonnes Chemicals, Arabian Gulf / south China, end-July, $55-57/tonne
Enquiries:
10,000 tonnes Paraxylene, Sikka / Merak and/or Kuantan, 10-15 Aug
4,000 tonnes Orthoxylene, Kandla / Gresik, end Aug
2,500 tonnes Cyclohexane, Dahej / Rayong, next available
1,000 tonnes Linear alkyl benzene, Nhava Sheva / Bangkok, 3-7 Aug
3,000 tonnes Chemicals, Arabian Gulf / west India, 8-12 Aug
10,000-12,000 tonnes Styrene monomer, Iran / east China, Aug dates
3,500 tonnes Ethylene glycol, Iran / Zhangjiagang, 1-10 Aug
Misc enquiries
Fixtures:
30,000 tonnes Palm oil, southeast Asia / Europe, early Aug, $92/tonne
15,000 tonnes Benzene, South Korea / US Gulf, H1 Aug, $54-56/tonne
12,000-15,000 tonnes aromatics, South Korea / US Gulf, H1 Aug, $53-56/tonne
6,000-9,000 tonnes Benzene, South Korea / Houston, H1 Aug, $58-59/tonne
9,000 tonnes Benzene, South Korea / Houston, early Aug, $54-56/tonne
Enquiries:
3,000 tonnes Phosphoric acid, Fangcheng / Savannah, Sep
3,000 tonnes Phosphoric acid, Qinzhou / Rotterdam, Sep
6,000 tonnes Cyclohexane, Map Ta Phut / ARA, 17-21 Aug
5,000 tonnes Lube oil, Mohammedia / Sudan, 1-7 Aug
1,000 tonnes Base oil, Sharjah / Tampa, next available
4,000 tonnes Normal paraffin, Arabian Gulf / Augusta, 20-25 Aug
3,000 tonnes Cyclohexane, Map Ta Phut / ARA, 26-30 Aug
10,000 tonnes Molasses, Thailand / UK and Continents, next available
2,000 tonnes Styrene monomer, Assaluyeh / Gebze, end July to early Aug
2,000 tonnes Acetic acid, Mumbai / ARA, H1 Aug
2,000 tonnes Ethylene glycol, Mumbai / ARA, H1 Aug
This week on ICIS news ( www.icis.com ):
29 Jul 11 06:29 Asia benzene hits three-month high as prices rise in US, styrene
29 Jul 11 05:38 Asia toluene hits three-year high on benzene, tight supply
29 Jul 11 04:24 Sinopec starts building lubricant plant in Singapore
28 Jul 11 09:10 Palm oil freights rates from southeast Asia to west India on the rise
