Shipping woes, inclement weather hound Asia petrochemical trades

SINGAPORE (ICIS)–Asia’s petrochemical trades
still face grave logistics challenges recently
compounded by inclement weather, preventing
regional producers from taking full advantage
of strong demand in the west.

Ocean freight rates continue to soar due to a
global shortage of vessels and congestions at
major ports amid the COVID-19 pandemic.

As of 10 September, freight rates from China
for a 40-foor container to the US east coast
now top $22,000, while those to northern Europe
were at more than $14,000, according to online
freight…