ISTFIX Black Sea & Mediterranean Freight Index Report: 2014 Week 14

by Istanbul Freight Index, ISTFIX
Wednesday April 9, 2014

After a strong surge lasting two weeks, cargo flows eased across all regions, which could be taken as a correction. Some brokers say that sudden rush of cargoes followed by a reasonable "breathing space" was expected.

Among still good fixtures, a 4.000 dwt unit booked 3.300 tonnes of SFS cargo from Nikolaev to Tarragona for about 52 USD a tonne, rounding up to 43 USD per tonne basis on 1/1 stowage.
Ex-Adriatic general cargoes in 5.000 tonnes this week offered remarkably less than last done levels. 4.500 tonnes of mixed steels and general cargoes from Porto Nogaro to 2 Tunisian ports offered about 24 USD a tonne. Last week, 5.000 tonne rebars were seen at 30 USD a tonne to Algeria.

Scraps from South Adriatic to Black Sea and East Mediterranean route still pay meagre 16-17 USD per tonne on 1/1 stowage basis. Last week, for instance 2.700 tonnes of scrap was shipped from Bari to Izmir for 21 USD a tonne. Cargo was suitable for a 4.500 dwt unit.

Reports of sluggish port operations and consequent problems across Algerian ports have been received throughout the week. According to complaints, due to long waiting times and poor agency services, some vessel face fresh water and provision shortages. Owners and home brokers are advised to monitor their stores and crew related supplies when calling Algerian ports.

Freight rates across Baltic, North Sea and Continent remained stable mostly, according to Berlin based BMTI. However reports show that available tonnage is still hard to come by and rates remain firmly set. 3.000 to 5.000 tonne generals are still fetching around mid-20 EUR/tonne from Baltic to Amsterdam-Rotterdam-Antwerp-Ghent (ARAG) region. Longer range 4.000 to 5.000 tonne scrap shipments from lower Baltic to North Spain remain fairly stable at 28-29 EUR per tonne. Fertilizers of 3.000 to 4.000 tonne on the same route offer high-20 EUR a tonne as well.