+380 67 625 91 65The Black Sea freight market demonstrates stable rates on the background of stable grain export supplies from Ukraine. Grain transportation remains active, which supports high demand for vessels and keeps rates at current levels. Grain exporters face moderate freight costs, but transportation volumes remain strong. The number of available vessels is in line with market needs, creating a balance between supply and demand. However, further growth in demand for vessels is forecast, which may lead to a gradual increase in rates. Shipowners are already planning rate increases in response to increased cargo traffic. Shippers, in turn, will strive to keep rates at competitive levels, but the general trend points to possible price increases. There is also a slight increase in rates for the transportation of metals and other industrial goods from Ukrainian ports, which creates additional opportunities for shipowners. The Black Sea freight market is expected to continue strengthening until the end of the year due to growing demand for grain crops and the expansion of exports of other commodities.
In the Mediterranean Sea, shipowners are also optimistic due to the growing demand for transportation of agricultural products, metals and industrial goods. Despite a sufficient number of vessels to cover existing needs, shipowners are looking to increase rates. Some segments, such as metals and fertilizers, have already seen a slight increase in rates, indicating a gradual recovery of the market. However, charters are struggling to hold on to current rate levels, leading to market tensions. In the metals segment, despite a slight recovery, the situation is still weak, which restrains more significant rate increases.
In the Sea of Azov the trend towards strengthening the freight market, which has been observed for several weeks in a row, continues. Shortage of available river-sea vessels combined with high demand creates favorable conditions for shipowners. Despite improvements in weather conditions, a deficit of tonnage remains, which allows shipowners to raise rates. Forecast for the Azov Sea remains positive: a seasonal increase in transportation volumes in the last months of the year will continue to support the market. Demand for coal and agricultural products, especially grain, is likely to continue to keep the market at a high level, providing stable income for shipowners in this region.
