+380 67 625 91 65There is a moderate increase in activity on the Black Sea freight market, mainly due to the growth of grain shipments from Ukrainian ports. During the week, rates for wheat or corn shipments of 5–6 thousand tons from Izmail or Odessa ports to Adriatic (Italy) are discussed at $26-27 per ton. Despite attempts by shipowners to raise rates, exporters face restrictions due to low grain prices. Thus, transportation of corn from Chernomorsk to Greece is offered at the rate of $24 per ton, while shipment of similar consignments to Lebanon is estimated at $20–21 per ton. Rates for grain delivery from Ukrainian ports to Turkey remain at $17–18 per ton. The situation with other cargoes remains complicated. Forecasts for the coming weeks assume stability, with a possible slight growth in rates. Shipowners expect further growth in grain transportation volumes, especially corn, due to the new harvest.
The freight market in the Mediterranean Sea also remains in a difficult situation, despite a slight increase in activity. A surplus of vessels continues to put pressure on rates. Limited cargoes such as grain, steel and fertilizers are keeping freight rates low. Grain shipments, especially wheat and corn, are supporting the market, but rates remain low. For example, shipping 5,000 tons of wheat from North Africa to Southern Italy is negotiated at $20–21 per ton, yielding between $1.7k-1.8k per day. Fertilizer shipments from Egypt to the Eastern Mediterranean, for example, are negotiated at $19 per ton, supporting a steady but modest income for shipowners. Forecasts for the Mediterranean in the coming weeks also indicate stability, with no expectation of significant rate increases.
In the Sea of Azov, there is an increase in rates despite pressure due to an excess of vessels and limited cargoes. Grain and coal remain the main cargoes, but vessel activity is limited. Rates for 3,000 tons of wheat or corn from Azov to Turkey are holding at $26-27 per ton, generating revenues around $1.5-1.6k/day. Coal transportation is also supporting the market, but without much improvement: the rate for 5,000 tons of coal from Rostov to Samsun is at $22-23 per ton, providing revenue around $2k per day. Forecasts for the Azov Sea indicate a possible slight increase in rates in the coming weeks. Shipowners expect an increase in grain shipments with the beginning of fall, which may contribute to an improvement in the market situation.
