The U.S. Gulf to East Coast South America continues, with service owners fully booked for loading in July. If there were hopes last week that big lots of ethanol from the U.S. Gulf to Brazil would firm up so that outsiders would fix them and open up some space for part cargo, now it seems that this opportunity is completely dead because ethanol demand has picked up on the other way around, with several traders trying 20000 to 30000 cubic meters northbound.

Transatlantic eastbound continues flat with the usual owners showing part space available from prompt loading onwards, with 5,000 ton lots of styrene and 4,000 ton lots of glycols were quoted into Antwerp-Rotterdam-Amsterdam and 3,000 ton lots of acetic acid into the Mediterranean.

There were some rumours about 7000 to 10,000 cubic meters of ethanol into Europe but nothing confirmed as fixed, and 12,000 metric tons of FAME quoted from the U.S. East Coast to Norway.

The U.S. Gulf to Far East still has a lot of space to fill from prompt-to-end July loading. A load of 5,000 to 6,000 tons of chemicals were reported fixed at a very competitive $50/t from Houston to China, but other fixtures for 5,000 ton lots of styrene were done at mid $50/t. A large cargo of 10,000 tons of chemicals was in the market but still not firm.

Europe
The good spot activity seen last week in the North Sea and Baltic regions came to an end. Contract of affreightment nominations keep regular owners employed, but other ships are struggling with the lack of inquiries.

Northwest Europe to the Mediterranean has shown stable contract nominations to keep the ships moving, but spot activity is very poor. Several base oil traders have tried from Northwest Europe into Turkey, but scarcely any have succeeded arguing that there is non-existent Turkish demand. Fatty acid methyl ester/MTBE shipments continue active into the Western Mediterranean and some small parcels of 1000 to 2,000 ton lots of specialised chemicals, which are usually fixed by the regulars as part cargo.

Northbound continues the same trend, with space available and owners with regular service struggling to fill up back to Northwest Europe. Inter-Mediterranean routes continue to be slow and more ships will be open shortly. The typical caustic soda cargoes from the Eastern Mediterranean are very quiet, so some ships have to ballast away to find next employment.

Transatlantic westbound demand continues flat with regular owners open, and Antwerp-Rotterdam-Amsterdam showing part space available for July. Freight rates continue in the region of low $40s/t basis for 5,000 ton parcels from Rotterdam to Houston, although they could go lower for prompt loading. Cargoes of 5000 to 10000 aromatics and caustic loading for under keel clearance discharging to the U.S. East Coast and U.S. Gulf have been circulated but no fixture confirmed.

Regarding base oil, a potential combination of lubes loading Northwest Europe account of Mediterranean to the Caribbean drew a lot of attention, and an unusual small inquiry from Israel to Argentina was also noted.

Europe/Far East sentiment improved compared to previous weeks. Some ships on berth managed to fill up with butanols, acrylonitrile and specialized chemicals. However there are others with space available for July loading from Antwerp-Rotterdam-Amsterdam or the Mediterranean.

Cargoes quoted this week included paraxylene, glycols, styrene and other xylene cargoes. As guidance, 5,000 ton lots of easy chemicals from Rotterdam to scheduled principal ports in the Far East for mid-July loading was reported failed on subs at low to mid $80/t depending on the source.

Northwest Europe to the Middle East Gulf is still quiet. Phosphoric acid from the Mediterranean keeps moving, but the feeling is that vegetable oils from the Black Sea may be slowing down. Several inquiries for base oil hit the market from Mediterranean to the Black Sea, and it seems that something was fixed from Livorno to West Coast India, but no details have transpired so far. Also, 11,000 tons of base oils from Augusta to UAE were also circulated but this should be a regular movement rather than a trading opportunity.

Asia
Domestic Asian remains unchanged from last week. Cost of affreightment nominations are driving the momentum, while there is a lack of regular trading cargoes.

Northbound has seen some activity from Thailand. Some small chemicals to Jiangyin were circulated for July loading and paraxylene was quoted into China for August, but nothing has been confirmed as fixed.

Southbound is still showing part space available for July due to a slowdown on bulk cargoes such as caustic and aromatics. Southeast Asia to West Coast India has seen more activity in the palm oil, but the freights are unmoved at around $30/t basis for 10,000 tons.

The Middle East Gulf to India region remains very slow, with many ships open prompt and owners willing to fix small cargoes out of the area in order to move out because it is expected that activity might go even further down due to forthcoming religious holidays. Likewise, owners are very worried about fixing into the area.

Asia to the U.S. Gulf saw several aromatic cargoes from Korea, with 30,000 tons confirmed fixed at low $40/t.

Adrian Brown is away.

Jordi Maymi is a shipbroker for chemicals and base oils with SSY Shipbrokers, London. Information about SSY can be found at www.ssyonline.com. Jordi Maymi can be reached in the London office at fix@ssychems.com or +44 20 7977 7560.