Natural Rubber Shipment Damaged
(Akron/Tire Review) Reuters reported last week that a ship carrying some 1,500 tonnes of natural rubber for delivery to tyre companies ran aground off the coast of Sumatra near Indonesia. Most of the rubber was reportedly intended for Bridgestone Corp and Goodyear Tire & Rubber Co facilities in the US.
The ship, reportedly badly overloaded, was damaged and the cargo suffered water damage. But rubber traders told Reuters that the natural rubber could be salvaged, dried and put into production without problems. There was no word what this incident might due to already high natural rubber prices.
Meanwhile, fast rising oil prices, pushed higher this week by the devastation of Hurricane Katrina in the US Gulf coast, forced synthetic rubber prices up a reported 15 per cent. Industry analysts said the increase in synthetic rubber prices will continue, and will likely force rubber companies – including tyre manufacturers – to use more natural rubber, already hitting record prices of its own.