News of the freight market as of 01.04.2024

The Black Sea market is experiencing a slowdown in activity and a decrease in freight traffic due to a positional decline in demand for transportation of goods for various reasons.
The main factor affecting this market is the slowdown of grain cargo flow. This is probably due to the approaching end of the harvest season and changes in the trade policy of the Russian Federation in this region. Nevertheless, there is some recovery in steel scrap exports, which may bring some stability to the market. This may be due to increased demand for steel products in other regions.
In the near term, market activity is expected to continue to decline, but a gradual recovery is possible based on stabilization of steel scrap and other exports.

There is also a decline in activity in the Mediterranean market, resulting in lower trade volumes. This is possibly due to the general economic slowdown in this region, reflected in lower demand and long-distance rates, which is probably due to changes in buyer preferences.
The decline in activity is expected to continue in the near term, but some improvement is possible based on stabilization in certain segments of the trade, such as fertilizers and nitrates.

Shipowners in the Azov Sea region continue to demonstrate growth rates, holding the initiative. This may be due to increased demand for transportation of grain, which is the main export commodity from this region. The main driver of growth is the increase in grain exports, which creates increased demand for cargo vessels. This is likely due to the harvest or changes in trade policies that are contributing to the increase in export volumes.
Rates are expected to remain elevated due to continued growth in grain exports, but fluctuations are possible depending on external factors such as weather conditions and changes in trade policy.

freight market rates

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