The deep sea market in the Black Sea region is experiencing high rates similar to the previous week level. According to Sea Lines shipbrokers, many ship owners are in no hurry to lower rates, even given the small amount of cargo available.
The most striking destination for ships from Handy to Panamax at the moment is Asia, since there is a large amount of cargo going to China from the Russian Far East and the United States, which significantly increases time-charter equivalent rates.
In the Black Sea the rate for Panamax-type ships going to India/China is approximately $20,000-21,000, and for cargo to be transported within the Pacific Ocean, ship owners receive $27,000-29,000.
On week 18, freight rates for 40,000-50,000 dwt bulkers from Novorossiysk moved up for some destinations.
According to Sea Lines shipbrokers, freight rates from Novorossiysk made $19 pmt to East Med and $21.5 pmt to West Med.
Freight rates from Novorossiysk to Casablanca were $29.5 pmt, freight rates to India amounted to $46.75pmt.
Freight rates from Novorossiysk to China made $48 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.