+380 67 625 91 65Chartering activity in the Black Sea started to decrease after rates of growth in the first half of October. Many Charterers prefer to wait, estimating high rates of shipowners, which restrains price growth and in some cases leads to their decrease. As a result, the gap between the expectations of the parties, especially for Ukrainian grains, has noticeably increased. On corn transportation routes to Turkey, Charterers’ rates do not reach shipowners’ requests, which makes it difficult to conclude deals. In the coming weeks, current rates are likely to remain or slightly decrease, as demand for grains may slow down, and Charterers will continue to keep a cautious position in conditions of limited market activity.
In the Mediterranean Sea, the market is also unfavorable for shipowners, despite a slight increase in steel shipments. The main cargoes – grain and fertilizers – remain in short supply, making it impossible to maintain stable rates. Although a few deals have been concluded, weak demand for fertilizer, especially after the industry event in Greece, continues to weigh on the market. Charterers have been successful in keeping small tonnage rates down and are expected to remain at current levels in the coming weeks.
In the Azov Sea river-sea market, rates remain stable. This is due to the limited supply of vessels for late October and early November dates, as well as the deterioration of weather conditions, which adds uncertainty. Rates for transportation of grain cargoes, such as wheat from Rostov to Turkey, remain relatively low, which restrains shipowners’ opportunities. Amid the weak recovery of coal transportation activity, many Charterers continue to insist on reduced rates for shipments to Turkish ports.
