Small-tonnage owners increasingly bullish in Black Sea amid upcoming grain season

摘要

Owners are more and more aggressively pushing rates up in the Black Sea amid continuing shortage of open vessels and the start of a new grain season. Particularly this applies to shipments in 2H July, when wheat exports are expected to gain pace. The most acute lack of tonnage is still reported in the 8-12k dwt segment: So, owners already want to get up to $40/t for spot transportation of 10,000 t of wheat from Mariupol or Berdyansk to Egypt, and low $40s/t for a similar shipment in 2H July; Some charterers already voice the level of $37/t for transportation of 10-12,000 t of wheat from Mariupol to Alexandria with 4,000x/2,500x l/d rates, which is equivalent to $10.5k daily bss RV and $13.5k daily bss dely Marmara; Charterers offer $38/t for shipment of 10,000 t of barley (sf 55`) from Kherson to Israel by Dagon-fitted vessel given l/d rates of 3,000 sshex bends (equivalent to $11k daily bss RV); The deal for transportation of 11,000 t of barley (sf 53`) from Constanta to the Marmara Sea with 4,000x/2,250x l/d rates and July 10-15 laycans is discussed at $22-23/t (equivalent to almost $11k daily bss RV); Charterers are ready to pay around $60/t for shipment of 9-11,000 t of wheat from Kherson to Rotterdam in late July.