Given the new reality when the Black Sea market was deprived of steel, fertilizer and mineral shipments ex Ukraine, demand for smalltonnage fleet remains quite healthy in the region, primarily amid a further upturn in grain shipments from the Ukrainian ports of Reni and Izmail. Also, ISM sources note regular offers of grain and steel scrap for transportation from Bulgaria and Romania. After a slight increase seen during the month, charterers seem to have finally managed to stabilize rates in the western part of the basin, while transportation costs ex Ukrainian ports continue to rise amid an extremely limited number of vessels ready to carry out such shipments.
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