The usual summer slowdown was lacking in the US markets. Transatlantic eastbound enjoyed a considerable amount of activity all month, driven mainly by styrene. Space remained scarce, but rates stuck at the peak of $70/t for 5,000t parcels of easy chems, with traders shying away when attempts were made by owners to go even higher. Products such as phenol paid considerably more however. USG/Far East was not as buoyant as June. Commodity prices conspired to keep styrene and PX shipments from making much of an appearance, and instead there were cargoes of ethanol to Korea and Philippines. Contract volumes were lower too and by end month rates for 5,000t parcels Houston/ MPFE fell by around $5/t to low $60s/t. Similarly, USG/lndia-MEG space was tight, yet owners seemingly failed to lift rates.
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