Freight rates increased in large lots segment of Black Sea region

23.08.2016

Freight rates strengthening in the large Panamax-type vessels segment (+USD 1/MT) was observed in the Black Sea region. At the same time, a trend of freight rates decrease in Handysize vessels segment continued.

Market operators reported a lack of new spot grain and metal offers. Last week cost of goods transportation on voyage-basis in the Handy segment dropped by USD 0.25-0.5/MT. Meanwhile, the demand for Supramax and Panamax bulk carriers for shipments to Arab Gulf and Southeast Asia recovered slightly, which allowed owners of this tonnage to stabilize rates. In the middle of the month cargo flow from Black Sea ports decreased slightly in the coaster segment. This mainly applies to shipments of grain in 8-10 KMT lots. There is enough number of free ships of any tonnage in the spot market.

More information on freight market is available to subscribers for weekly market report "Black Sea Grain & Oil" by UkrAgroConsult.

 

 

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