On Week 50, Black Sea freight rates remained on the two previous weeks’ level.
According to Glogos Project brokers, freight rates for shipping wheat to Marmara from North-West Black Sea ports (Ukrainian Yuzhny, Kherson, Odessa, NIkolaev, Ilyichevsk) were $23 per ton, from West Black Sea (Varna, Burgas, Constanta) $22 per tons, and from North-East Black Sea (Novorossiysk) $25 per ton.
Freight rates for shipping scrap metal by coasters from North-West Black Sea to Marmara made $25 per ton.
Freight rates for chipping coal to Marmara from West Black Sea ports were $19 per ton, freight rates from Novorossiysk to Marmara were $23 per ton.
According to Glogos Project, in the Azov region freight rates are continuing to fall. Average rates are fluctuating around $37-39 per ton of wheat, RST – TBS basis.
Cargo supply has decreased significantly, and freight rates are heavily propped up by the fact that charterers keep on trying to ship their parcels prior to the holiday period in order to avoid storage fees during it, as ports will be working with interruptions.
On the other hand, many charterers’ activity in the region has noticeably declined. They postpone new contract conclusions until January to avoid idle time and extra costs in case loading happens to coincide with the Christmas or New Year dates. In addition, the freight market is expected to continue falling, so that charterers will be better off by fixing their fleets after the celebrations.
A lot of tonnage is opening around the same dates – on the last week of December. Ship owners are seeking long voyages primarily to Mersin, Iskenderun and the Adriatic. However, they are open to discussing any other directions, as the cargo amount on the market is shrinking.
We remind you that the rates cited in the 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 proceedings.