Freight rates for oils and fats are set to stay firm despite weaker chemical and clean petroleum markets. Ken Tree of KTR Maritime writes. With one year to go before the nternational Bulk Chemical (IBG) Gode and MARPOL revisions (see Transport News,p8) take oils and ats exclusively into the chemical tanker domain, freight rates - particularly for tropical oils - stayed firm against a weakening background to chemical and clean petroleum (GPP) rates. During last quarter 2005, freight levels for SouthAmerican East Coast (ECSA) soft oil exports rose around 12%. The soyabean oil freight levels from the ECSA to China held steady in the low-mid US60 dollars/tonne for liftings of 30-40,000 tonne, while smaller shipments (16-20,000 tonne) were confirmed in the mid-US60 dollar s/tonne. As petroleum refining capacity continued to improve from the disruptions created by the summer hurricanes in the US, the soaring Atlantic basin CPP rates softened steadily. This situation, in combination with a relatively mild November, had forced rate levels well below last 2004's mid-US400 dollar s levels.
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