+380 67 625 91 65In the Black Sea, the freight market for small tonnage vessels remains sluggish due to a lack of fresh cargo offers, especially for firm contracts. Shippers successfully keep rates at a stable level, as shipping activity does not show significant growth. The excessive number of vessels in the region creates additional pressure on the positions of shipowners, preventing them from achieving a significant increase in rates. The market is supported by a limited flow of grain and certain shipments of other goods, but it is insufficient for a noticeable recovery. Expectations for improvement are primarily related to the start of active shipments of the new crop, but the current sales rate is not encouraging yet. In the near term, while maintaining low activity, rates will remain close to current values, with minor fluctuations depending on one-time transactions.
In the Mediterranean, the coastal shipping market is showing a prolonged lull due to an excess of available tonnage and a limited number of new cargo offers. Shippers and shipowners continue to negotiate, but differences in expectations on rates do not allow changing the current dynamics. The holiday season in Europe further reduces activity, and deals are mostly concluded on the same terms. Attempts by shipowners to consolidate their positions have not been successful, as cargo flows remain limited. In some cases, contracts are being signed for the transportation of fertilizers, grain and rolled metal, but the volumes are insufficient to reverse the trend. It is expected that no significant changes will occur in the near future, and the situation may begin to improve only closer to autumn, provided that the supply of goods increases.
In the Sea of Azov, shipowners continue to seek higher rates, despite limited demand for grain and certain cargoes bound for Turkey. The main supporting factor is active shipments through the Kerch Strait, accompanied by significant delays, which limits the available tonnage. Local routes demonstrate faster inspections, allowing shippers to achieve a small reduction in rates, however, on long shoulders, the cost of transportation continues to rise. An increase in the volume of grain and processed products shipments keeps pressure on capacity, which plays into the hands of shipowners. At the same time, the actual profitability of flights is often offset by longer travel times due to downtime. In the short term, rates in the region are likely to remain at a high level, especially in areas with long transit times.