PALM OIL FREIGHT RATES TO DECLINE

摘要

Drewry’s freight rate index dropped in May, in line with our expectation, as rates weakened on major long-haul routes. Many plants in South Korea, Japan and China are undergoing seasonal maintenance until June, resulting in fewer COA cargoes and weak spot demand for shipping. Freight rates for chemical tankers in the Middle Eastern market will weaken in the coming months. Also, shipowners will struggle to find spot cargoes in the next two months as trading volumes and liquidity traditionally decrease during Ramadan, which ends with the Eid ul-Fitr festival at the end of June.