News of the freight market as of 22.04.2024

After the Muslim holidays, activity on the Black Sea freight market slightly increased, but remained low. Brokers’ estimates indicate a significant surplus of open tonnage, exceeding transportation demand by about 1.5 times. Due to the surplus of available vessels, freight rates remain at current levels to avoid further decline.
For grain transportation from the river ports of Ukraine (Reni, Izmail) to Mediterranean ports, freight rates range from $28–35 per ton for short voyages and $29–36 per ton for long voyages. As for grain export from deep-water ports in Ukraine (Pivdennyi, Odessa, Chernomorsk), freight rates range from $29 to $37 per ton in the Mediterranean and $20 per ton in the Marmara Sea. Freight rates from other Black Sea ports (Constanta, Varna, Novorossiysk) vary from $21 to $38.5 per ton depending on port of loading, type and volume of cargo, as well as voyage distance.

After the Muslim holidays, activity in the Mediterranean market for small-tonnage transportation increased. However, it did not affect the general picture of the market, where excess tonnage continues to prevail. Shipowners will have to be satisfied with stable rates at current levels.

Activity in the Azov Sea slightly increased after the Uraza-Bayram holiday. However, owners of river-sea vessels are still unable to achieve significant growth of rates due to insufficient supply of grain cargoes and slow movement of coal cargoes. Now, most charterers are offering $39-40 per ton for the transportation of 3,000 tons of wheat from Azov/Rostov to the Sea of Marmara, while shipowners are looking for low $40 per ton.

freight rates

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