Baltic Sea coaster market: still no light at the end of the tunnel

摘要

The Baltic Sea coaster segment remains extremely dull in early May. Players continue to report the market lull, as the number of newcargo offers is minimal. Players only partially refer this to holidays in Russia, as the downward trend in cargo traffic has already been seenfor quite a long period and it is to a larger extent caused by a seasonal decrease in exports and quarantine measures in most exportingand importing countries. The surplus of fleet is large in the basin and vessels are often standing idle in a dead spot. Note that even a slightincrease in bunker prices failed to support freight rates. So, freight levels stay under pressure and owners make further concessions tocharterers amid high competition (another €0.5-1/t down this week).