Freight rates in Ukraine are falling due to low demand and a surplus of vessels

Overloading of free vessels and lack of new cargo continue to put pressure on the maritime transportation market.

The Ukrainian maritime transportation market remains in conditions of low demand and excess of vessels, which leads to a decrease in freight rates. This is reported by Spike Brokers.

“A large supply of free vessels due to a lack of new cargo and low freight rates continues to put pressure on the maritime transportation market. During the week, there were minor fluctuations in the cost of freight on routes from the port of Odesa and Danube ports,” the analysts wrote.

As of February 12, the tariffs for cargo transportation from the port of Izmail look like this:

• in the direction of Romania — 8-9 euros (1-3 thousand tons);

• to the eastern coast of Italy — $26-28 (5-7 thousand tons).

For shipments from the port of Chornomorsk:

• to the east coast of Italy — $14-16 (30-35 thousand tons);

• to the east coast of Spain — $16-18 (25-30 thousand tons).

As USM recently wrote, global importers are reducing wheat purchases due to financial difficulties.