Freight rates from the ports of Great Odesa to the Mediterranean have decreased
13.08.2024 - 10:13
Currently, there is a moderately weak demand for grain from Ukraine on the Black Sea market.
The freight of “handysize” vessels from the deep-sea ports of Odesa to the Eastern Mediterranean decreased by 2 USD/t — to 18-20 USD/t. This was reported in UGA.
The same trend is observed in the transportation of agricultural products to the east coast of Italy, where the corresponding rates have decreased to 20-22 USD/t. Freight rates to Spain also decreased by USD 1/t — to USD 22-24/t. Rates for the transportation of grain to Tunisia fluctuate at the level of 23-25 USD/t.
In general, the imbalance persists in all market segments, allowing charterers to dictate their terms. In addition to bets on “handysize”, the situation worsened for barge owners.
Thus, market players are forced to make additional concessions to charterers due to the limited number of orders from the Danube ports. Barge rates for the transportation of corn from Reni or Ismail to Constanta decreased by EUR 1/t to EUR 10/t. At the same time, the freight for the transportation of sunflower seeds to Ruse/Silistra became cheaper by 2 EUR/t — to 16 EUR/t.
Instead, “Panamax” freight from the ports of Great Odesa to southern China and Bangladesh remains at the level of 50-52 USD/t. Shipping rates to South Vietnam are USD 46-47/t.
The freight of “coaster” from the Danube ports to Marmara and eastern Greece is kept within the range of 17-19 USD/t and 20-21 USD/t, respectively. There are no shifts in the direction of the eastern Mediterranean — rates are kept at the level of 22-24 USD/t. Freight rates to the east coast of Italy and Spain are 26-28 USD/t and 28-30 USD/t, respectively. Freight to Israeli ports is in the range of 29-30 USD/t.
Recently, USM wrote that almost 2,300 vessels left the ports of Great Odesa over the past year.
