News of the freight market as of 29.04.2024

The situation on the freight market for small-tonnage vessels in the Black Sea faced serious challenges after April 22, reaching a critical point. The volume of cargo traffic in the region has significantly decreased, especially for Ukrainian grain exported from ports on the Danube. Exporters are facing additional inspections by Ukrainian regulatory authorities, resulting in a temporary suspension of sales. As a result, the list of available tonnage on the market is growing. Many vessels have been on standby for 10–15 days already.
Freight costs for transportation from Ukrainian ports decreased by $1-4 per tonne, and from other Black Sea ports – by $0.5-2 per tonne. At present, there are no preconditions for improving the situation in the Black Sea.

The situation on the freight market for light-tonnage vessels in the Mediterranean Sea continues to be difficult. Cargo traffic remains low, which affects supply and demand. Freight rates are decreasing, especially for vessels transporting cargo from the Mediterranean region. Competition for cargoes is intensifying, attracting both local and foreign shipowners. Availability of free vessels on the market also puts additional pressure on freight rates. The situation on the freight market in the Mediterranean is expected to be tense in the near future.

In the Sea of Azov the situation on the freight market is characterized by decreased activity. The local river-sea sector is gradually losing its position due to decreasing trade volumes. Most small and medium traders have already closed their export quotas, which reduces the amount of available cargoes for transportation. The decrease in freight rates reflects the current weak market activity and increased competition among shipowners, who are trying to fill their vessels with cargoes. Activity in the Azov Sea freight market is expected to remain low in the near future.

Freight costs for transportation from Ukrainian ports

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