Keynotes.(MARKETS)

Ammonia freight rates were expected to firm further as strong global demand for LPG continued to bolster freight rates in the ammonia sector, despite slow trade in the latter. LPG/ ammonia vessels of 50,000 cbm can now secure rates of over $1 million/month, in contrast with the softer tone experienced earlier this year. Spot rates for the major trade route of Yuzhny-Tampa rose by mid-August to the high-$70-80s/t for 30-35,000-tonnes vessels, up $10/t on July, while rates for mid-sized (15-25,000 tonnes) vessels were also buoyant. Brokers reported that 1525,000-tonne ammoniaparcels from Yuzhny to Antwerp were paying an estimated $50-55/t.

Midsize ammonia freight rates …