Panamax freight rates from deep-water ports of Ukraine increased by $5/t per week
At the beginning of the second month of the grain season, the volume of hard cargo applications remains insufficient to ensure a sustainable recovery of the freight market in the Black Sea and Mediterranean regions, Pavlo Lysenko, an analyst at ASAP Agri and freight broker at Atria Brokers, told Latyfundist.
At the same time, shipowners are trying to increase freight rates, hoping for positive market dynamics in August, which makes it difficult for shippers to fix tonnage at the desired rates.
"It is worth noting that the temporary closure of the Bystre Canal helped Coaster ship owners in some cases achieve higher rates for transportation from the Danube. However, after its resumption on August 6, the pressure on freight rates from shipowners began to ease," the analyst notes.
Freight rates increased during the week:
- Panamaxes from deep-water ports of Ukraine to South China – by $5/t to $43–45/t,
- hand sizes (for corn batches of 30 thousand tons) from deep-water ports of Ukraine to the east coast of Italy - by $1/ton to $18–19/ton,
- bonfires (for corn batches of 6 thousand tons) from the Danube ports of Ukraine to the eastern coast of Italy - by $2/ton to $31–32/ton,
- barge (for corn consignments of 1–3 thousand tons) from Izmail or Reni to Constanta remained unchanged at 11–12 €/ton.
Since the beginning of the season, the cost of shipping by Panamax has increased from $35-38/t to $43-45/t, which will continue to increase pressure on traders' purchase prices.
