The drop in freight rates for transportation from the ports of Great Odesa stopped after the attack on the ship by the Russians

After the attack by the Russian Federation on a cargo ship in the port of Odesa region, the markets were shaken by a new wave of concern regarding the further export of Ukraine, Atria Brokers reports.

At the end of last week, the situation on the chartering market remained uncertain, and the drop in rates for transportation from the deep-sea ports of Odesa, which was observed in the previous few weeks, stopped.

As of November 10, the freight rates for the transportation of corn by handsizes in the main directions were, as a week ago, as follows:

• to Israel and the east coast of Italy — $45-46/t,
• to the Eastern Mediterranean — $43-45/t,
• to the Mediterranean coast of Spain — $48-50/t.

Rates for the transportation of corn by panamax from the ports of Great Odesa to China remained at the level of $60-62/ton.

The dynamics of rates for transportation from the Danube ports was diverse. The cost of corn transportation by cutters of 6,000 tons from the ports of Reni and Izmail in the direction of Marmara decreased by $2-3/t to $35-36/t, to Greece by $2/t to $39-41/t. At the same time, transportation to Israel rose in price by $2-3/t — to $51-52/t, the Eastern Mediterranean — by $1-2/t to $47-48/t, to Seville — by $1/t to $59-61/ton.

Rates for transportation to the east coast of Italy and Spain remained at the level of $51-52/t and $55-56/t, respectively.

Against the background of a significant supply of the fleet and low production volumes, the freight rates for the transportation of corn by barges to Constanta fell immediately by 7-8 €/t to 25-26 €/t, and for sunflower - by 15-16 €/t to 41-42 €/ t.

We will remind that on November 8, the Russians attacked a civilian ship entering the South port in the Black Sea with a Kh-31P anti-radar missile from tactical aircraft, as a result of which the pilot was killed, crew members were injured, and the ship itself was damaged.