+380 67 625 91 65In the Black Sea, the low-tonnage transportation market remains under pressure due to the ongoing fleet surplus in the main segments. Despite the revival of activity at the beginning of the month, interest from shippers decreased again by the end of June. A steady flow of grain offers is observed only in limited quantities, mainly with destinations in North Africa and the Eastern Mediterranean. Rates remain at minimum levels, and shipowners are forced to compete with each other for rare cargoes, in some cases agreeing to further concessions. At the same time, the activity on the part of large players makes it difficult for smaller carriers to raise rates. The only positive aspect remains the reduction in prices for bunker fuel, which somewhat reduces operating costs. There is no reason to expect a significant increase in freight in the near future, especially without a pronounced impulse in the form of an increase in the export volume of grain from the new crop.
In the Mediterranean, the market situation is characterized by weak demand and oversupply of tonnage. Despite spot deals with relatively high rates in certain areas, the region’s freight market remains sluggish overall. The lack of a stable export flow from key ports makes loading planning difficult and forces shipowners to compromise on tariffs. Transportation of fertilizers and construction goods remains the most active, but volumes in these areas do not yet cover the entire fleet. Attempts by charterers to lower rates are based on weak trading activity and the current balance of supply and demand. Even a slight recovery in supplies from individual fertilizer plants does not significantly affect the overall picture. In the short term, the market will remain under pressure, and there are no serious prerequisites for improvement.
In the Sea of Azov, shipowners continue to make efforts to raise rates amid expectations of the start of the new grain season. However, real spot activity remains low, and demand from shippers remains limited. Shipments of grain from the new harvest in July are gradually beginning to take shape, but there are no large-scale deals yet. Some improvements are observed in the Marmara Sea supply segment, where barge and wheat are offered on terms close to the operational minimum. At the same time, attempts by charterers to restrain the growth of rates are intensifying due to the weak competitiveness of grain and the limited volume of external contracts. Moderate demand for Russian grain from Iran and certain Turkish ports may provide targeted support to the market. Nevertheless, if the flow of offers from shippers does not intensify in the near future, the freight market risks remaining inactive until the middle of summer.