Freight rates from Danube ports have increased, analysts say

Over the past week, freight rates from Danube ports increased by an average of $2/t.

The increase in freight rates is due to the increase in the cost of passing through river routes, analysts at Spike Brokers reported.

For barges heading from Izmail to Italy, rates were $30-32/t.

At the same time, freight rates from the ports of Great Odesa remained unchanged.

“Although there is a shortage of cargo offers on the market, a significant number of free vessels restrains further growth in rates from Black Sea ports,” analysts said.

Market rates for transportation from river ports:

• Izmail – Romania (1-3 thousand tons) — €8-9;

• Izmail – east coast of Italy (5-7 thousand tons) — $30-32.

Market rates for transportation from seaports:

• Chornomorsk – east coast of Italy (30-35 thousand tons) — $16-17;

• Chornomorsk – east coast of Spain (25-30 thousand tons) — $17-19.

As previously reported by USM, in the last week of February, shipowners managed to slightly raise the freight rates for vessels for the export of Ukrainian grain.