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Shipping News, January 2010
10:08 AM MST | February 1, 2010 | Jacqueline Richardson, Richardson Lawrie Associates (RLA)
Chemical carrier rates have exhibited similar downward trends as seen throughout bulk shipping but with fluctuations and, on many routes, still look robust compared to, say, the tanker sector. Despite the severity of the global downturn, rates on the main arterial east/west routes have not plummeted to the levels seem in the last market trough in the early 2000s. Commodity spot rates from the U.S. Gulf to the Pacific fluctuated throughout 2009 but overall were around 10% below 2008. This included an uptick in the fourth quarter, which left rates...
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