Weak grain demand in Turkey triggers downtrend in Black Sea coaster segment

摘要

Despite the fact that the shortage of open vessels is still reported on the Black Sea spot market, the tonnage demand is clearly weakening. This is primarily referred to a serious decline in purchasing power in Turkey as local importers are unable to buy agri products and other cargoes given the ongoing collapse of the lira. Charterers are trying to lower rates, but so far they actually succeed only in the 3-4k dwt segment. Such ships are increasingly opening in the Black Sea amid the collapse of the Azov sea-river market: Last week, traders had to pay $43-45/t for transportation of 3,000 t of grain from Kherson or Nikolayev to the Marmara Sea, while charterers now offer several dollars less for a similar shipment or even leave the market, thereby putting additional pressure on rates; So, traders are no longer ready to pay more than $41/t for transportation of 3,000 t of bran (sf 55-56`) from Kherson to the Marmara Sea (equivalent to $5.5k daily bss RV);