Black Sea small-tonnage market strong despite some vessels open spot

摘要

The trend towards the market softening and opening of vessels (even for spot dates) which outlined in 2H Oct has discontinued. Tonnage demand generally remains high, while owners are very aggressive due in part to roaring demand from neighboring Mediterranean Sea charterers. Only wheat and various cubature agri products (meal, bran) are now regularly offered for transportation in the grain segment, while exports of new crop corn remain slow. Presently: Charterers are ready to pay low-mid $90s/t for shipment of 9,000 t of wheat from Kherson to ARA with 3,000x/2,000x l/d rates; The deal for transportation of 7.5-8,000 t of meal (sf 68`) from Varna to Ashdod is discussed at high $60s/t, which corresponds to $49-50/t bss 11,000 t of heavy grain;