On week 40, freight rates began to grow actively in the Baltic region. According to Sea Line ship brokers, this is due to the appearance of more cargoes on the market, as well as to the resumption of contract shipments.
Also, many shipowners are not eager to send their vessels to the continent, as they are kept by regular shipments and the growing market gives them a chance to make good profits.
In the deep sea market in the Mediterranean / Black and Red Seas, ship owners have quite different attitudes. Some are in no hurry to go further than Gibraltar, and prefer to take grain cargoes from the Black Sea region. At the same time, some owners prefer to consider cargo to the Persian Gulf region, as there is a fairly large number of cargo, with a good freight level.
It is also worth noting that amid the fact that the Time charter equivalent for Capesize vessels increased by 11%, many Handy / Supra / Panamax owners sent their vessels to the Baltic and the Continent regions, hoping for better freight rates. Their actions are also justified by the fact that over the last 1,5 week the Baltic dry index has been demonstrating only positive growth.
Freight rates for 30,000-35,000 dwt bulkers from Ust-Luga to most destinations grew, the only exception being the Black Sea and the Persian Gulf.
Last week, rates on the Ust-Luga – Continent – Ust-Luga routes were $20 pmt, rates from Ust-Luga to ARAG made $22 pmt.
Rates from Ust-Luga were $29 pmt to West Med rates, and $30 pmt to East Med.
Rates for 30,000-35,000 dwt bulkers from Ust-Luga to the Black Sea amounted to $31 pmt, rates to the Persian Gulf were $25 pmt.
In the small tonnage bulker segment in the Baltic rates grew significantly.
Rates from Ust-Luga to Klaipeda were €14 pmt, and those to Riga and Stockholm were €17 pmt.
Freight rates from Ust-Luga to Hamburg made €23 pmt, and to Bremerhaven €25 pmt.
Rates from Ust-Luga to ARAG were €27 pmt, and those to Dublin €35 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.