U.S. markets look tighter this week. European coastal markets are thriving on a mixture of increased demand and bad weather. Asian markets are a bit too quiet to support all the ships open in the region.
U.S. Gulf of Mexico
There has been a rise in the amount of spot and contractual business on the Gulf-to-Caribbean route that has created some serious shortages of space for end February and early March loading. Rates are firmer as a result. A sudden surge in paraxylene shipments to Mexico seems to have accounted for some of the open space, and there have been some further small parcels of base oils, styrene, ethanol and tallow.