+380 67 625 91 65The Black Sea market is still not showing confident recovery after the holiday period. Tonnage remains in surplus, which intensifies competition among shipowners for limited cargo volumes. Charterers, using the current situation, are seeking to reduce rates. Transportation of high-margin cargoes does not bring tangible growth, as the demand for them is unstable and spotty. The balance in the region is clearly shifted in favor of cargo owners who avoid long-term deals. Possible market revival depends on demand for grain and industrial cargoes, but there are no positive signals yet. Market participants are cautiously assessing the prospects, expecting more pronounced trends from the agricultural and industrial sectors.
In the Mediterranean Sea the situation also remains tense for shipowners. Demand for transportation is low, and deals are concluded on the background of tough competition. Charterers are trying to minimize rates, and shipowners’ attempts to change the region are not massive yet, despite the questionable profitability of many voyages. Modest interest in agro-products does not have a significant impact on the market and does not contribute to the growth of rates. Players prefer short agreements, avoiding long-term commitments. Brokers note that more support from importers and exporters is needed to change the situation, which is not there yet. In general, the market remains weak, and the parties are ready to make concessions when concluding new contracts.
In the Sea of Azov carriers continue to face shortages of cargo offers, which reduces voyage profitability. Sporadic shipments of grain and industrial goods do not compensate for the low level of demand. In conditions of excess tonnage, Charterers dictate more rigid price conditions. At the same time, low liquidity of transactions complicates the determination of market benchmarks. Logistical problems increase the turnover time of vessels, which additionally pressures the rates. Market participants pin hopes for improvement on appearance of new cargoes and seasonal revival of the agricultural sector. However, without clear guarantees and under current weather conditions, the outlook remains uncertain. The region maintains a low level of business activity, which continues to put downward pressure on the market.
