It has probably been one of the quietest weeks of the year for all markets primarily due to the June 23 Brexit referendum, which is causing jitters throughout global commodity and financial markets.
The mood on routes into Asia is more subdued, with some United States-based charterers admitting they would rather halt further business until after Thursdays vote deciding whether Britain will withdraw from the European Union. Ethanol is the principal grade these days, with ethylene dichloride also figuring in the list of enquiries. Styrene has not been present at all, nor have base oils. Rates have eased back a little further, with 5,000-ton parcels ranging from $72 per metric ton to $76/t from Houston to China.
Logistics & Distribution Shipping