Chartering market at hand // week 46

摘要

First signs of market softening have emerged in the Black Sea and the Mediterranean region, which is primarily referred to an acute shortage of new grain offers ex Ukraine within the grain corridor, (which has been reported for the fourth week already). In these circumstances, the decline in vessel queues came as a logical and predictable development (there are now less than 90 ships for entry + exit vs. 170 a month ago), which resulted in increased 2H Nov tonnage list in the region. Moreover, exports from the Danube ports have stabilized, while optimization of operations allowed Romanian and Ukrainian administrations at least to restrain the rapid congestions increase (about 50 vessels are now waiting at the Sulina entrance vs. 100+ seen in summer). Freight rates ex the Danube ports have dropped by another $5-8/t over the week, those from Ukraine's deep-water ports by $1-3/t, from other Black Sea ports by $0.5-1/t. Meanwhile, freights have stayed at last week's levels in the Mediterranean Sea.