Freight market

摘要

In early January, Global CFI has sagged by $0.48/t (-2.5%) due to lower freight rates in the Azov Sea ($2.58/t down), the Black Sea($1.22/t down), the EMed ($0.79/t down) and the WMed ($0.5/t down). Trade has traditionally stalled in these regions during the NewYear holidays, which has pushed the rates down. The average daily earnings for seagoing vessels have decreased by $0.2-0.6k daily inthese regions, while the sea-river TCE has dropped by $0.45-0.7k daily in the Azov Sea. Meanwhile, the rates have stayed at the level oflate December in the Baltic Sea and the Far East. The average daily earnings for small-tonnage fleet have inched down due to increase inbunker prices (IFO prices have added $15-25/t, those for MGO have risen by $20-40/t). The exporters from the East European countrieswill return to the market after the holidays on January 10. The cargo traffic from the Azov-Black Sea basin and the Baltic ports is expectedto perk up starting from the middle of the month. It is still hard to predict whether the rates step up to the level of late December, butthe chance is slim. Most market participants believe that keeping the current level of rates can be called a success for the shipowners.