Baltic Sea: coaster freight rates stabilized at high levels after durable growth

摘要

The Baltic Sea coaster market remains strong. Shipments of main cargoes remain lively, while the tonnage list is still short. Amid longlasting excitement, ISM sources increasingly report deals for cargo transportation signed in advance (2-3 weeks), which is generallynot typical for the local market. Most contracts were traditionally concluded with spot/prompt dates, but charterers are now trying toprotect themselves from significant difficulties in finding open vessels. Freight rates stay high in the basin, while owners are still bullish,sometimes voicing sky-high ideas. However, charterers already reluctantly agree to another rate upturn, and rates generally seem to havestabilized in the region. Moreover, a gradual decline in bunker prices deprives owners of their additional argument in negotiations.