The freight rates for delivering fuel oil from northern China to East and South China have been stable in early November amid higher cost, though shipping demand has dropped, a survey with ship owners found.
For 3,000-DWT oil tankers moving from Dalian in Northeast China to Zhoushan in East China, the freight rates were Yuan 95-105/mt on Nov 5, without change from Oct 21.
In the meantime, very few ships carried fuel oil to Shanghai as downstream demand stayed sluggish some days after the World Expo ended.
"Without extra permit, the freight for fuel oil tankers plying from Dalian to Shanghai would be the same as that for the Dalian-Zhoushan route," said ship owner.
Hardly any fuel oil was shipped to Huangpu in South China in early November, as restriction over transportation has been tightened before the Asian Games.
When demand shrank, the freight rate was supported by higher fuel cost. Bunker 180CST fuel oil was estimated to trade at Yuan 4,625/mt in East China on Nov 4, up Yuan 160/mt from Oct 21, a assessment indicates. Meanwhile, the price of bunker zero-pour-point gasoil surged Yuan 537/mt to Yuan 7,525/mt.
Under higher cost pressure, freight rates are likely to climb in the near term.
Due to strong demand for off-spec gasoil in northern China, some slurry, feedstock for the production of off-spec gasoil, was delivered from Hainan in South China and part of East China to northern China in early November. This was rarely seen before.
For 3,000-DWT oil tankers moving from Dalian in Northeast China to Zhoushan in East China, the freight rates were Yuan 95-105/mt on Nov 5, without change from Oct 21.
In the meantime, very few ships carried fuel oil to Shanghai as downstream demand stayed sluggish some days after the World Expo ended.
"Without extra permit, the freight for fuel oil tankers plying from Dalian to Shanghai would be the same as that for the Dalian-Zhoushan route," said ship owner.
Hardly any fuel oil was shipped to Huangpu in South China in early November, as restriction over transportation has been tightened before the Asian Games.
When demand shrank, the freight rate was supported by higher fuel cost. Bunker 180CST fuel oil was estimated to trade at Yuan 4,625/mt in East China on Nov 4, up Yuan 160/mt from Oct 21, a assessment indicates. Meanwhile, the price of bunker zero-pour-point gasoil surged Yuan 537/mt to Yuan 7,525/mt.
Under higher cost pressure, freight rates are likely to climb in the near term.
Due to strong demand for off-spec gasoil in northern China, some slurry, feedstock for the production of off-spec gasoil, was delivered from Hainan in South China and part of East China to northern China in early November. This was rarely seen before.
