Black Sea transportation market remained passive last week


Despite the beginning of the new agrarian season, the Black Sea transportation market by Handysize fleet remained very passive. In grain segment, the market included mainly requests for barley deliveries. Requests for wheat and corn transportation were almost absent, reports UkrAgroConsult. This week the Black Sea freight market will remain inactive, and the recovery of grain exports is expected in August.

Requests for grain supplies in the South Atlantic were few, but the number of free tonnage in the region was also low. In this situation, ship owners defended their positions successfully. Shipping of Panamax grain lots from Brazil to the north China ranged USD 25-26/MT. In the North Atlantic the situation was similar. For the delivery of Panamax grain consignment from the US Gulf ports to China the charterers were ready to pay about USD 34/MT.

For the next month the number of requests for the supply of agricultural commodities is minimal, and most likely a significant reduction in rates in the basin is inevitable.



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