Chartering market at hand // week 50

摘要

The upcoming holidays in Christian countries and the ongoing collapse of the Turkish lira lead to a gradual activity decline in the Azov- Black Sea basin and the Mediterranean Sea. Given a significant slowdown of grain shipments from Russian shallow-water ports to Turkey, sea-river rates have plunged by $6-10/t in the Azov Sea after Dec 13. Such a rapid softening of the sea-river market certainly affected transportation costs of small cargo lots in the Black Sea where rates have sagged by $2-3/t over the week. Meanwhile, the rate drop in the 6-15k dwt segment is restrained by steady shortage of vessels open on the spot market, as well as by worsening weather conditions.