EMEA News
Istanbul Freight Index: 2014 Week 3
After more than two weeks into the New Year, freight markets still appear depressed in the Black Sea and East Mediterranean as number of open vessels in major export destinations turned the tables once more against owners.
Typical 5.000 tonne intra-Black Sea coals that were fixed for around 18-20 USD a tonne last week now fetch as low as 13-15 USD a tonne, that is, if there really is any firm cargo.
Grain cargo fixtures from Black Sea to East Mediterranean remained relatively stable however owners are still far from low 30 USD per tonne levels seen prior to holidays.
This week owners more or less strived to keep rates stable at around mid-20 USD a tonne levels.
As for some Aegean - Adriatic fixtures, 5.000 tonnes of minerals were offered from Izmir to Bari at 24 USD per tonne while another similar sized mineral parcel from Varna to Porto Marghera was reported offering 21 EUR per tonne (roughly 28-28,5 USD per tonne), which was slightly lower than last week.
Due to higher port expenses, ex-Ukrainian cargoes to Central Mediterranean have still been hovering around mid-low 30 USD levels.
For instance 4.800 tonnes of grains from Mariupol to Ploce was heard fixed at low 30 USD in an off-market deal.
On longer range and larger segment, one 10-12.000 tonne wheat parcel from Russian Black Sea to West Africa offered around 35-37 USD a tonne, earning larger coasters with good gear about 7.000 USD per day, without ballast returns.
As for Baltic, North Sea and Continent, activity has yet to rebound as cargo demand remains relatively weak according to Berlin based BMTI.
One 3.000 tonne aluminium parcel from Saint Petersburg to U.K. East Coast was reported fixed at 22 EUR per tonne, which was 1 EUR/tonne lower than last done levels.
Intra-Baltic grains are still going for around 14-15 EUR a tonne while scraps in 5.000 tonne parcels fetch about 23,5 EUR per tonne from Baltic to North Spain.
