EMEA News
ISTFIX Black Sea & Mediterranean Freight Index Report: 2014 Week 8
Perhaps the turmoil in Ukraine or the adverse weather reflected on Black Sea trade this week as brokers were not really upbeat and rates remained sluggish.
East Mediterranean gained strength while shipments from West Mediterranean to east remained stable but on the strong side.
Meanwhile, charterers in the Continent and Baltic are "vying" for tonnage as avails shrink and freight rates remain firm.
Starting with Black Sea, 3.500 tonnes of high stowage grains ex-Constanta to Marmara fetched 18 USD a tonne.
Fixed to a 5.000 dwt vessel rate corresponded to about 13 USD a tonne, which is lower than past week's 15-16 USD a tonne average for the same route, but the vessel was open immediately in Constanta, which still awarded a good profit margin.
In other Black Sea shipments, 3.500 tonnes of bulk minerals was shipped to Italy from Marmara at high 26 USD a tonne with very fast loading.
4.200 tonnes of wheat from Balchik to Oristano quoted 21 EUR per tonne, averaging even better.
In the Mediterranean, 3.100 tonnes of concentrates were heard fixed from East Greece to Sardinia for 17,5 EUR per tonne with good terms.
Coincidently another broker reported fixing 3.200 tonnes of minerals from Sardinia to Koper for 16 EUR per tonne. 4.000-5.000 tonne grains ex-South France to Italy quote 15-16 EUR per tonne as well.
As for longer range shipments, 4.500 tonne minerals cargo from Marmara to U.K. West Coast was offered at 33 EUR per tonne, which was seemingly not very ideal. However single day loading and cheaper than usual discharge port charges made it attractive.
Meanwhile a 4.000 tonne grains parcel ex-Kherson to Rotterdam was fixed for
58 USD a tonne with regular loading terms, more or less earning the same on daily basis, considering the speed and cost factors.
In the Baltic, North Sea and Continent, open tonnage is rapidly becoming tight due to adverse weather and helping owners to raise their offers. Storms will reportedly persist in the coming weeks as well, suggesting that rates are likely to remain bullish over the short period.
This week, Baltic States offered more cargo than previous week sending rates higher.
Fertilizers shipments have been particularly bullish according to Berlin based BMTI. Grains and generals ex-Baltic to Amsterdam-Rotterdam-Antwerp-Ghent (ARAG) region fetch 17-19 EUR per tonne for 4.000-5.000 dwt units and 14 EUR per tonne on the way back.
3.000 tonne generals were offering 15,5 EUR per tonne from German Baltic to Continent while steels from Saint Petersburg to U.K. East Coast quote as high as 28 EUR per tonne.
From Southampton, 3.000 tonne barley was reported fixed for 13,25 EUR per tonne to ARAG.
