Grain freight rates increased on transoceanic routes


Grain freight rates increase on transoceanic routes was observed last week. On other routes grain freight rates remained unchanged.

Information service "Promyshlennye gruzy" notes that only previously reserved cargoes figured in the South Atlantic, whereas direct requests from charterers were virtually absent. Meanwhile, the inflow of vessels in ballast from Southeast Asia and the Indian Ocean continued, which created preconditions for further rates reduction.

In the northern part of the basin there were offers for transportation in the market, but their number was not enough to form a stable bullish trend. Most of the Panamax-type fleet owners prefer to focus on work from ports of the US Gulf and Europe towards Southeast Asia countries.

The cost of soybean transportation to China strengthened slightly due to persisting demand for soybeans.

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




Readers choice: TOP-5 articles of the month by UkrAgroConsult