On Week 48 freight rates in the Black Sea market changed very little. One difference was the decrease in freight rates for grain shipped by coasters from the Ukraine to Marmara.
According to Glogos Project, rates for shipping grain by coasters to the Sea of Marmara from NW Black Sea (Yuzhny, Kherson, Odessa, Niokolaev, Ilyichevsk) made $23 per ton, from W Black Sea (Varna, Burgas, Constanta) $22 per ton and from NE Black Sea (Novorossiysk) $25 per ton.
Freight rates for shipping metal scrap from NW Black Sea to the Sea of Marmara made $25 per ton.
Coal from W Black Sea to the Sea of Marmara was shipped at $19 per ton and from Novorossiysk at $23 per ton.
According to Glogos Project, traders’ business activity in the Azov region was declining, and cargo supply is diminishing week by week, resulting in falling freight rates.
However, ship owners still refuse to believe that the grain season is drawing to a close and the market is starting to favour charterers. A lot of vessels are opening on the same dates – end of week 49 – beginning of week 50. Ship owners are keeping hold of their fleets up until the spot dates in the hope to close the deals at higher rates, but as practice shows, they end up accepting existing offers as they are.
Owners of ice-classed vessels count on the ice restrictions from December 20, 2017 to reduce the tonnage working in the Azov region and to push up freight rates or, at least, stop them from falling further.
We remind you that the rates are average market. We ask our readers to pay attention that this information is not a commercial offer and can not be an example for comparison in commercial disputes and arbitration proceedings.