On week 8, 2021, fuel prices continue to grow. Thus, freight rates on the deep-sea market are increasing. This growth is very noticeable in the Supramax/Ultramax segment for cargoes going from the Black Sea to India and South China ports. V freight rate for deadweight cargo from Novorossiysk to South China sea ports varies from $47 up to $50 pmt. Charterers who observe this market prefer to postpone their shipments and wait for freight rates to fall.
The Black Sea and Mediterranean market is also considered by many owners to be “aggressive” at the moment, particularly because of the high demand for mini-bulk carriers. For a tonnage of 7-13 thousand tons, there is sufficient amount of cargo in the market, both in the Black Sea and in the Western Mediterranean. This provokes a growth of the already high rates. However, many owners prefer to take cargo to the Eastern Mediterranean, due to the availability of back cargo and cheaper fuel prices, Sea Lines report.
On week 8, freight rates for 40,000-50,000 dwt bulkers from Novorossiysk increased to some destinations.
Freight rates from Novorossiysk made $25.5 pmt to East Med and $26.75 pmt to West Med.
Freight rates from Novorossiysk to Casablanca were $31.25 pmt, freight rates to India amounted to $51 pmt.
Freight rates from Novorossiysk to China made $53 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.