Chartering market at hand // week 34

摘要

The small-tonnage freight market keeps suffering strong pressure in both the North and South Europe. Despite a further upturn in grain shipments from Odesa, Chornomorsk and Pivdennyi (including in 5-15,000 t stems), there is not a hint of a rate increase in the Black Sea given both the situation on the grain export market (prices continue to decline) and the ongoing increase in regional vessel list (due in part to shorter queues at the entrance to the Sulina Canal). In the Mediterranean Sea, rates for shipments on some routes have even sagged by another $0.5/t this week as owners of fleet opening in the Marmara and Aegean Seas prefer to compete for Mediterranean cargoes rather than for Black Sea offers. Note that earnings of owners of 5-12k dwt sea-going vessels (excl. Ukrainian and Russian ports) are now 1.5-2 times lower compared to late Aug last year, but still three times higher than those in 2020. Working from Ukraine’s ports, owners have every chance to get the TCE that exceeds last year’s record levels.