In the short sea market of the Baltic region, freight rates for most destinations remain stable, although fuel prices are not going to fall. In terms of tonnage, there is still a shortage of vessels in the Baltic: some ship owners are opening positions of their vessels on the Continent and in the Mediterranean, plus many ships are still under contracts or are already being closed for new ones, Sea Lines shipbrokers report.
However, the end of the first wave of contract shipments is expected in May, which suggests a new tonnage will enter the market. A large flow of cargo is observed towards the ports of ARAG and the UK, while return cargo is in short supply. In this regard, some ship owners are ready to ballast to the Baltic for the sake of attractive cargoes. Regarding cargoes, fertilizer shipments predominate in the market, while grain cargo activity is not observed.
On week 16, freight rates for 3,000-5,000 dwt bulkers from Ust-Luga increased for some directions.
Thus, rates from Ust-Luga to Riga made €16 pmt and those to Gdansk were €18.25 pmt.
Freight rates from Ust-Luga made €20.5 pmt to Szczecin, €25 to Flensburg, and €28.75 to Hamburg.
Rates from Ust-Luga were €31.5 pmt to ARAG, €38.75 pmt to East Britain, €40 pmt to West Britain, and €41.25 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.