Bullish Start To The Year

摘要

Unlike previous years, January started with a burst of activity that just about continued all month. In the US market, the tight tonnage situation persisted and became very pronounced on the transatlantic eastbound route. E90, a grade of ethanol used in gasoline blending, was one of the most common cargoes, but there were also plenty of MX, toluene and biodiesel cargoes. Rates for 5,000t stems Houston/Rdm went from low $50s/t to low $60s/t. USG/ EC. South America registered significant hikes in freight too, with the market for 5,000t easy chems Houston/Santos rising from low $50s/t to nearly $65/t by end January. Contractual volumes were so strong that spot market space was almost nonexistent. Caustic and styrene were the mainstay commodities on this trade with the occasional ethanol or base oil cargo too.