Shale gas boom increasing chemical exports, freight tanker rates

07/30/2013 | Bloomberg

The increase in chemical exports to Asia, spurred by U.S. shale gas supplies, has bumped tanker prices to their highest level in five years. Rates will rise about 12% next year, averaging $14,500 per day, RS Platou Markets estimates. China imports the majority of organic chemicals, according to the American Chemistry Council, while the U.S. is the biggest exporter.

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