Chartering market at hand // week 17

摘要

The small-tonnage cargo traffic has perked up slightly in the Mediterranean and Black Seas this week, which was primarily referred to the upcoming holidays (Eid al-Fitr in Muslim countries and May holidays in many countries of the region). Seeing healthy demand from charterers ahead of long holidays, owners try to raise rates in the Mediterranean Sea even despite gradually increasing spot vessel list. There are still few owners willing to work in the Black Sea, which allows owners to maintain a positive momentum in this region as well ($0.5-2/t up for shipments from Romania, Bulgaria, Turkey and Ukraine). By contrast, ongoing decline in grain exports from the Azov Sea, as well as a slight slowdown in shipments of steel products, coal and fertilizers ex Black Sea ports, are pushing corresponding freights down. Moreover, some owners have adapted and already express less concern about possible consequences of working with Russian cargoes. Thus, rates ex Russian Black Sea ports have inched down by mere $0.5-1/t, while the Azov sea-river market has collapsed by $12-20/t.