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Markets > Market Reports > Chemical > The transatlantic westbound market firmed this week... Archive:
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The transatlantic westbound market firmed this week...

21 January 2013

The transatlantic westbound market firmed this week, as strong contract nominations caused open spot space to tighten. As a result, benchmark rates for 5,000mt and 10,000mt parcels on this trade lane shot up by 16.3% and 18.4% w-o-w to approximately $50/mt and $45/mt respectively.

Meanwhile, the transatlantic east-bound market has been sluggish. Benchmark rates for 3,000mt and 5,000mt parcels remained steady w-o-w at approximately $60/mt and $48/mt respectively.

The market has firmed on the Rotterdam to Ulsan trade lane and rates for 5,000mt parcels have increased by 2.2% w-o-w to approximately $95/mt.

Activity out of the Middle East Gulf remained fairly steady this week. Despite this, the benchmark rate for a 15,000mt parcel to Ulsan softened by 1.9% w-o-w to approximately $51/mt.

Meanwhile, freight rates from the Middle East Gulf to Europe remained steady, with rates for a 15,000mt par-cels to the Mediterranean and Rotter-dam standing at approximately $60/mt and $72/mt respectively.

© Clarkson Research Services Limited 2014