Firming, But Only Just

摘要

October saw a gradual reduction in the overhang of open tonnage in the USG and it took until late in the month before owners were able to even talk of firmer rates, although in practice the only route that saw significant increases was the USG/Asia route. Numbers there climbed from mid $60s/t to mid $70s/t for 5,000t stems Houston/ MPFE. Aromatics and styrene lead the way, along with large lots of EDC, phenol, acetone and glycol. Transatlantic never really developed greatly apart from large lots of ethanol and occasional styrene and biodiesel opportunities. USG/EC.South America was kept busy on contracts with yet more ethanol shipped both southbound and back northbound too. Rates stayed steady for most of the month, as did USG/Caribs. Biodiesel exports from S. America to Europe averaged around 120,000t/month, but vegoil exports were not as expected and rates fell. Sale & Purchase October saw activity pick up as frustrated bystanders entered the market to start inspections. Whilst many offered low prices, it still created a "market" as the serious players decided to offer full levels; this was particularly so for Capes, with 2 sales of mid -1990s-built units. The 161,192 dwt "Royal Oasis" (blt 1995, HHI) and "Cape Wakaba" (171,978 dwt, blt 1996, Kawaski) were sold to clients of Sea Pioneer and Swiss Marine at US$16.5m and US$18.35m respectively.