A shortage of vessel capacity has pushed Asian grain cargo rates higher in the past week as demand remained strong, and shipping agents said yesterday rates were unlikely to soften in the near term.
Agents quoted rates for Panamax-class vessels between the Gulf and Japan at US$21.464 a tonne compared to US$20.142 two weeks earlier.
Rates for Panamax-class shipments between the US Pacific Northwest and Japan have risen to US$12.536 a tonne from US$10.892 two weeks ago, agents said.
"Demand has been strong amid the export high season in the United States," said a Japanese shipping agent based in Taipei.
The agent expected freight rates to rise further in mid-October.
berths damaged
Agents acknowledged that the massive September 21 earthquake had damaged four berths in Taichung Harbor, Taiwan's main grain port, but said this had caused no shipment disruptions.
Officials said conveyers in two berths specifically designed for grain shipments were damaged and would need two to three months or longer to repair, but shipments could be unloaded at any of Taichung's 39 berths by using mobile cranes.
Agents nonetheless worried that the quake damage could result in shipments being diverted to other ports on the island, which was likely to boost freight rates and storage costs.
"If shipments are redirected to other ports from Taichung, cargo rates will increase US$3 per tonne," the agent said.
Other Taiwan seaports, including Kaoshiung, one of the world's biggest container ports, were operating normally and arrival and departure schedules were unaffected by the quake.
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