Freight rates in the Black Sea remain unchanged

Weak demand and high competition among vessels are preventing fleet owners from revising rates.

“The freight market remains sluggish and oversaturated with free fleet, which continues to put pressure on rates,” Spike Brokers.  analysts report.

Weak demand and high competition among vessels are preventing fleet owners from revising rates, despite increased costs due to the transition to more expensive fuel for vessels transiting the Mediterranean Sea in accordance with new MARPOL requirements.

Analysts note that the number of new fixations remains minimal, and the market is stagnant.

“This situation is likely to persist at least until the start of the new season.

Accordingly, rates from the Danube and Greater Odessa ports remain unchanged for now,” Spike Brokers emphasized.

Market rates for transportation from river ports:

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

• Izmail – east coast of Italy (5-7 thousand tons) — $29-30.

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) — $18-20