US Transatlantic Eastbound Rates Rise on More Traffic

By Finance

Transatlantic eastbound chemical freight rates rose for the second time in a month on increasing traffic from the US, Mexico and South America to Europe, brokers said.

Brokers reported 13 new shipments on the trade lane, carrying a wide assortment of chemicals – aromatics, ethanol, methanol, phenol and lubes – with eight of the cargoes headed from the US Gulf to the Amsterdam-Rotterdam-Antwerp port complex.

US Transatlantic Eastbound Rates Rise on More Traffic

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The latest SSY Base Oil Shipping Report attributed the rate rise to continued tight space on the leg, noting “this is a route that is desperately short of March space, and even April is beginning to look questionable given the heavy contract nominations that are being received, according to owners.”

Rates from Houston to Rotterdam rose $5/tonne on shipments of 2,000 tonnes or less to $85-90/tonne from $80-85 previously. Charges on shipments of 5,000 tonnes or less rose $3 to 65-70 from $62-67 previously.

Westbound freight rates remained unchanged.

Freight rates on the eastbound transatlantic last changed in mid-February.

Source: ICIS