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Editor Anu Agarwal, anu.agarwal@icis.com
FREIGHT RATE ASSESSMENT – BASED ON 2,000 MT EASY CHEMS ON FIXED ROUTE, SHOWING PRESENT SPOT MARKET RATES, CHANGES AND TRENDS. THIS RATE REFLECTS PROMPT SHIPMENT IN USD/MT.
FREIGHT RATE ASSESSMENT – BASED ON 6,000 MT EASY CHEMS ON FIXED ROUTE, PROMPT SHIPMENT IN USD/MT
NOTE: For full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”.
Although activity was still slowly picking up after the regional Lunar New Year holidays, freight rates out of Korea were slightly higher amid tight vessel space. Many market sources pointed to a big congestion in the Yangtze river area due to fog and said as many as 100 vessels were stuck there. This had resulted in tight vessel space for the first half of March out of Korea and it was difficult to find prompt vessels and thus a slight increase in freight rates. Freight rates on other sectors were largely stable.
Bunker prices in Singapore were pegged at $5/tonne higher at $463/tonne at the close of the week.
Northeast Asia: Trades were picking up after the holidays and several enquiries were heard for vessel space in the first half of March. However, space remained tight - partly as delays due to fog in mid-China ports like Ningbo meant that vessel were missing lay cans in Korean ports. Also vessel owners remained reluctant to go to mid-China due to the heavy fog and resulting 5-6 day delays there.
This had put upward pressure on freight rates out of Korea and rates were up $1-2/tonne for prompt cargoes.
Some shipbrokers said they had enquiries for BTX and other easy chems but found it hard to get confirmed space for 1-10 March lay cans.
Meanwhile a few fixtures were noted out of Korea to mid-China and Taiwan - mostly for BTX.
Enquiries were also noted for deep-sea cargoes of BTX and caustic soda from Asia to the US. According to trade estimates some 150,000 tonnes of benzene is being shipped from Asia, mostly Korea, to the US Gulf and US West Coat. Freight rates for 10,000 tonne lots of benzene from Korea to USG/ USWC were around $44-47/tonne. Arbitrage from Asia to the US in the case of caustic soda was just opening and enquiries of 10,000 tonne lots were also starting to be heard.
Southeast Asia: Freight rates in southeast Asia remained mostly unchanged with the Singapore to Bangkok route for 2,000 tonne easychems at around $25-27/tonne. Singapore to Jakarta freight rate for 2,000 tonne easychems was also stable at $28-29/tonne.
Middle East – Vessel space remained tight out of AG and demand for space for chemicals like PX and methanol was brisk. A 10,000 tonne PX cargo for shipment in early March was fixed around $55/tonne. Some vessel owners were heard asking for $75/tonne for 10,000 tonnes of RPO from AG to mid-China. The freight rates for 6,000 tonne easy chems from AG to Singapore/ Bangkok were also assessed up $1-2/tonne in line with higher numbers heard to most far east destinations.
For CPO – The CPO market was quiet this week with some holidays in Indonesia and Malaysia although discussions were expected to pick up in the coming week. Activity had been sparse during February as inventories of palm oil remained high at destination ports in India, Pakistan and China, dragging freight rates lower.
CPO freight rates from Straits to mid-China for 10,000-12,000 tonne lots were stable at $25-26/tonne, to north China around $28-29/tonne and to south China around $20/tonne. Freight rates from Straits to west coast India/Pakistan were also unchanged at around $26-27/tonne and to east coast India unchanged at $23-24/tonne.
+++INTRA-NORTHEAST ASIA+++
FIXTURES:
3,000 tonnes OX Korea to Zhangjiagang $23/tonne early March
3,000 tonnes Bz Korea/ Kaohsiung $23/tonne first half March
5,000 tonnes PX Korea / Ningbo $19/tonne early March
8,000 tonnes easy chems Daesan/ Zhangjiagang $28 Erly March
ENQUIRIES:
2000 tonnes SM Ulsan/Ningbo 25-28/FEB
2000 tonnes DOP Ulsan/ZJG 1-10/MARCH
1000 tonnes DOIP Ulsan/CHANGSHU 1-10/MARCH
3000 tonnes MX Yosu/Zjg 24-27/FEB
3000 tonnes MX Yosu/QINGDAO 15-18/MAR - SHELL APRVL
500 tonnes NH Base Oils Zjg/H.Kong END FEB/ELY MAR
3000 tonnesT Base Oils 2G Mailiao/Shanghai pmt/2 MARCH
3000 tonnes Base Oils 2G Mailiao/YINGKOU PROMPT/2 MARCH
1000 tonnes DOP + 1000MT IBA Mailiao/ZJG+CHANGSHU 5-10/MAR
1000 tonnes Acetone Kaohsiung/JIANGYIN ELY/FEB
2000 tonnes RPO Kaohsiung/Ulsan 1-10/MAR
1700 tonnes Base Oils Yokohama/Ulsan prmpt- SHELL APRVL
2000 tonnes Base Oils Yokkaichi/Ulsan prmpt- SHELL APRVL
2500 KL Base Oils Ulsan/Kobe prmpt - SHELL APRVL
2000 tonnes SM Ulsan/Ningbo 25-28/FEB
3000 tonnes OX Ulsan/Lanshan 24-27/FEB
2000 tonnes Toluene Yosu/Jianhyin end FEB/ELY MAR
5/6000 tonnes C.SODA Shanghai/TAIWAN 10-15/MARCH
2/2100 tonnes Base Oils 3G Kaohsiung/SPSORE 26 FEB/6 MAR
1000 tonnes Acetone Kaohsiung/Jiangyin end Feb OR Ely Mar
1000 tonnes Acetone 500MT IPA Kaohsiung/Dongguan 2H/Mar
1000 tonnes MMA Caojing/Taichung 23-28/Feb
500/800 tonnes MMA Caojing/Onsan 5-10/Mar
+++NORTHEAST ASIA / SOUTHEAST ASIA+++
ENQUIRIES:
3,000 tonnes LAB Nantong/Bangkok 1-8/Mar
2000MT Base Oils Mailiao/Port Klang 10-20/Mar
1000 tonnes EA Jiangyin/Haiphong OR Dongnai 15-31/March
+++SOUTHEAST ASIA / NORTHEAST ASIA+++
ENQUIRIES:
3000 tonnes SM Singapore/Zhuhai 17-20/Mar - CDI & SHELL
3000 tonnes CYCLOHEXANE MAPTPAHUT/Kaohsiung 3-6/MAR
2/3000 tonnes BTX Merak/S.China OR M.China 5-10/March
3000 tonnes SM Merak/Zhuhai 10-15/March
10000 tonnes BTX TUBAN/CHINA 7-10/March
+++INTRA-SOUTHEAST ASIA+++
FIXTURES:
ENQUIRIES:
2500 tonnes Methanol LABUAN/KUANTAN PROMPT/ELY MARCH
2000 tonnes Methanol SINGAPORE/GODAU 5-10/MARCH
5000 tonnes Xylene SRIRACHA/KUANTAN OR MERAK 9-14/MAR
+++EAST ASIA / WEST ASIA+++
ENQUIRIES:
14/15000 tonnes POP Straits/WC India PPT/END FEB
+++WEST ASIA / EAST ASIA+++
FIXTURES
10,000 tonnes PX AG to mid-China $55/tonne
ENQUIRIES:
5000 tonnes OX Kandla/ZHUHAI-ZJG RANGE 6-10/MARCH
6000 tonnes OX Kandla/ZHUHAI-ZHENJIANG RANGE 15-21/MAR
10000 tonnes Methanol AG/CHINA 2-10/MARCH
10000 tonnes Methanol B.ABBAS/SHANGHAI 10/MARCH ONWARD
6000 tonnes MIX & 4000MT C9 BIK-ASSALOUYE/WC INDIA 5-10/MARCH
10000 tonnes Methanol BIK OR ASSALOUYE/S.E.ASIA 12-20/MARCH
5000 tonnes Methanol Kandla-MUMBAI/BATANGAS END/FEB
2000 tonnes MEG MUMBAI/ZJG 1-5/MAR
5000 tonnes Base Oils B.BUSHIRE OR UAE/JAKARTA 1W MARCH
+++INTRA WEST ASIA+++
ENQUIRIES:
12/15000 tonnes POP INCL ACIDS/STEARINE STRAITS/WC INDIA-PAKISTAN-AG 17-22/MARCH
14000 tonnes C.SODA MUNDRA/BIK END FEB/ELY AMR
+++MISCELLANEOUS+++
ENQUIRIES:
5000 tonnes PME PORT KLANG/CONSTANZA 20/MARCH ONWARD
10000 tonnes Base Oils LIVORNO/TEMA, MOMBASA, MUMBAI & FUJAIRAH MID/MAR
2850 tonnes Lubes 3G AUGUSTA/JEBEL ALI 12-17/MARCH OR ELY APR IF VIA SUEZ
2500 tonnes lots Bitumen Barranquilla/Santo Domingo 3 VOYS IN MARCH
2500 tonnes lots Bitumen Barranquilla/Guayaquil 1 VOY/MNTH COMM 1-20/MAY UPTO FEB 2011
1300 tonnes Brightstock Mersin/Mumabai PROMPT/10 MARCH - SHELL APRVL
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