+380 67 625 91 65The Black Sea market remained moderately active in September, mainly due to the limited supply of grain cargoes. Shippers tried to form shipments in small lots, which supported demand for the fleet, but did not allow the market to accelerate dramatically. An additional impact was the reduction in the number of available shipowners, as part of the fleet was engaged on long-term voyages or reoriented to other regions. Weather conditions began to complicate the duration of flights, which increased costs and encouraged caution on the part of shippers. At the same time, stable demand for grain transportation created prerequisites for maintaining the level of activity. The balance was formed due to a combination of a limited supply of cargo and a decrease in the number of available vessels. In the near future, a gradual increase in activity is expected due to the launch of a new crop of corn and wheat, which will revive trade and strengthen the position of shipowners.
During the period under review, the Mediterranean Sea showed signs of recovery after a long pause. Shippers have become more active in the fertilizer, grain, and metals segments, which has enabled shipowners to negotiate more confidently. The number of applications remained limited, but the growing interest in the supply of certain types of products created the prerequisites for a more stable market. Shipowners felt an improvement in their positions due to the shortage of vessels of suitable capacity and on the right dates. In some cases, shippers faced difficulties in finding a fleet, which allowed ship owners to defend more favorable terms. Despite the fact that there has not yet been a noticeable jump in rates, the very fact of increased activity was seen as a positive signal. In the future, the Mediterranean market may continue to strengthen, especially with the growth of agricultural exports in early autumn.
In the Sea of Azov, the market remained tense due to a significant shortage of available fleet and difficult weather conditions. Shipowners used the situation to raise demands, and shippers were forced to make concessions in order to fix the necessary voyages. High ship loading, as well as additional delays due to weather factors, increased the pressure on market participants. An important factor was also the competition between grain and coal flows, where grain took precedence and displaced less marginal cargoes. The reorientation of part of the fleet to more profitable routes further reduced the availability of ships. The situation created a market in which shipowners had an advantage in negotiations. A further sharp increase in rates is unlikely in the coming weeks, as too high levels are beginning to limit transaction volumes, but a moderate hold on current positions looks like the most likely scenario.