TIGHT FAR EAST FREIGHT SPACE HITS SUGAR MARKET
The Far Eastern sugar market is being hit
by a tightening in available nearby freight space needed to
move raw sugar to various destinations, notably from Thailand,
traders said.
    This has resulted in a hardening of freight rates in those
areas. These are now being quoted between 12.5 and 17.5 dlrs a
tonne per day, depending on shipment and destination, against
recent fixings below 12 dlrs a tonne.
    Charterers are considering combining contracted shipments
because of inadequate space, shipping sources said, noting 13
raws cargoes are awaiting shipment from various ports.
    A cargo of Thai raw sugar was reported traded at basis July
New York futures less 25 points for June/July 15 shipment,
traders said. But others said this was old business.
 Reuter
