Freight rates are keep increasing in Baltic sea market. First of all, this is caused due to worsen of the weather conditions and strong cold.
According to Sea Lines shipbrokers, a lot of owners, without ice class are not willing to call even ice-free ports like Gdansk or Klaipeda, which gives opportunity to ice classed vessels to ask for higher freight rates.
The price increase is also influenced by owners who are finishing their 2020 contracts, which leads to a lack of tonnage in the Gulf of Finland and the Gulf of Bothnia.
Moreover, there is an active import of grain cargoes from Russian Baltic sea ports, which heats the market and pushes charterers of coal, metal and fertilizers to postpone their shipments until February in a hope for lower rates and more fleet.
On week 3, freight rates for 30,000-35,000 dwt bulkers from Ust-Luga moved upwards.
Thus, rates on the Ust-Luga – Continent – Ust-Luga were $21 pmt, rates from Ust-Luga to North Spain were $22.5 pmt, and those to Casablanca were $23.5 pmt.
Rates from Ust-Luga were $28 pmt to West Med rates, and $29.75 pmt to East Med.
Rates for 30,000-35,000 dwt bulkers from Ust-Luga to the Black Sea amounted to $32 pmt.
On week 3, freight rates for smaller bulkers from Ust-Luga increased slightly.
Thus, rates from Ust-Luga to Riga made €17.75 pmt. And those to Gdansk were €19.5 pmt.
Freight rates from Ust-Luga made €23.75 pmt to Szczecin, €25.75 to Flensburg, and 28 to Hamburg.
Rates from Ust-Luga were €31 pmt to ARAG, €41 pmt to East Britain, €42.25 pmt to West Britain, and €43 pmt to Dublin.
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.