2008 Comes To A Close

摘要

Chemical markets in December were still suffering from a lack of overall demand leaving ample open tonnage in most regions. All routes experienced downward pressure on freights. The Houston area for loading was also affected by fog-bound tonnage and congestion in the Houston ship channel. In the American markets, December began with owners struggling to find business out of the USG, leaving a constant list of open ships. Spot activity on the USG/Caribs was thin and even contractual volumes were lighter than expected, causing some vessels to consider CPP trades instead. But the MR fleet was also active thereby causing more competitive rates, resulting in limited fixing. Activity picked up slightly towards the end of the month, caused by inventory issues and end of year tax reasons for the producers and traders.