Freight market

摘要

Global CFI has inched down by $0.03/t primarily due to a $0.3/t decrease in Black Sea freight rates. Moreover, despite worseningweather conditions, sea-river rates still cannot reach the bottom in the Azov Sea ($0.33/t down over the week). Only the freight ratesfor shipments ex Gulf of Finland ice ports have risen by $0.36/t. Global ISM Commodity Index has grown by 2.6 points this week dueto higher prices for scrap, semi-finished products and Russian wheat. In the meantime, market players still report weak demand fromtraditional importers of small shipload lots of steel (Turkey and North African countries). Scrap in larger lots is mostly acquired byTurkish buyers from Europe and the US. Grain prices have increased primarily due to scant supply of the cargo from Russian exporters.Considering the above, there are few reasons for any improvements in cargo traffic in H2 February - March. Therefore, the owners ofsmall-tonnage seagoing fleet will face difficulties keeping the current level of rates, the increase is out of question.