The situation in the Baltic large-tonnage bulker market on week 37 was unstable. Despite freight rate somewhat declined by the end of the previous week, cargo traffic during week 37 grew, which led to a growth in freight rates.
According to Sea Line ship brokers, the trend was especially pronounced in the Supramax segment, the type of vessels infrequent for the Baltic, although the demand for them exists.
The Handy segment demonstrated an opposite trend, with the demand slightly down and a large number of tonnage leading to a decline in freight rates.
On week 37, freight rates for 30,000-35,000 dwt bulkers from Ust-Luga in the Baltic went up for some destinations, according to Sea Lines.
Last week, rates on the Ust-Luga – Continent – Ust-Luga routes were $17 pmt, rates from Ust-Luga to ARAG made $19 pmt.
Rates from Ust-Luga were $24 pmt to West Med rates, and $27 pmt to East Med.
Rates for 30,000-35,000 dwt bulkers from Ust-Luga to the Black Sea amounted to $29 pmt, rates to the Persian Gulf were $42 pmt.
Activity in the small-tonnage bulker segment was growing significantly. Freight rates were up by $1-2 for most destinations. As the number of cargoes is increasing, most vessels are fixed until late September, and charterers are finding it difficult finding spot tonnage at low rates.
The rates for 3,000-5,000 dwt bulkers moved in different directions on week 37.
Thus, rates from Ust-Luga to Klaipeda were €12 pmt, and those to Riga and Stockholm were €10 pmt.
Freight rates from Ust-Luga to Hamburg made €17 pmt, and to Bremerhaven €18 pmt.
Rates from Ust-Luga to ARAG were €21 pmt, and those to Dublin €32 pmt.
Please note that the rates cited in this article are average market rates. We ask our readers to pay attention that this information is not a commercial offer and cannot be an example for comparison in commercial disputes and arbitration.