Rates for “coasters” from Ukraine are stable, but demand remains weak

Attacks on tankers in the Black Sea are worrying, but have not yet affected rates for dry cargoes – the market remains sluggish.

In early December, activity on the Ukrainian freight market remains limited, and rates for transportation by small vessels are stable. This was reported by ASAP Agri analyst Pavlo Lysenko.

The dry cargo transportation market has not yet reacted significantly to the attacks on tankers in the Black Sea, although the situation is causing some concern. The number of new applications for cargo transportation remains low, and shipowners with spot positions are facing difficulties in finding cargoes.

In the “handysize” segment, the situation remains “bearish” – the volume of free tonnage exceeds the supply of cargoes, which puts pressure on rates.

According to estimates:

• freight for a “panamax consignment” of corn (deep-water ports of Ukraine – South China) is 42-44 USD/t;

• freight for 30 thousand tons of corn to the East Coast of Italy (handysize) — 24 USD/t, a decrease of 1 dollar per week;

• freight for 6 thousand tons of corn from the Danube ports of Ukraine to Italy (coasters) — 36–38 USD/t, unchanged.

Also, the day before, USM wrote that the freight of “capsizes” in the world exceeded $40,000 per day.