ISTFIX Black Sea & Mediterranean Freight Index Report: 2014 Week 13

by Istanbul Freight Index, ISTFIX
Friday April 4, 2014

After last week's surge, intra Black Sea freight rates stabilised this week due to rapidly balanced flows, but rates are still good, according to some brokers. This week some intra-Black sea coals offered less than last done levels but longer haul cargoes other than such still paid good freight.

4.600 tonnes of SFM pellet cargo (stf 60) was fixed from Mariupol to Casablanca for about 50 USD a tonne earning more than 5.000 USD a day. The rate translates to about 40 USD a tonne on 1/1 stowage basis, which is rather good compared to a month ago.

Another high stowage cargo, this time from Sevilla to Misurata was fixed for 35 USD per tonne. Cargo was paddy rice (stf 63) and daily earnings easily reached more than 4.000 USD a day. From Adriatic, 2.200 tonnes of alfalfa cargo (stf 62) was shipped to Cyprus for 31,5 USD a tonne with reasonable loading/discharge terms.

In Central Mediterranean, a steel trader reported rapid freight rate fluctuations involving cargoes being shipped off Italy to North Africa. Due to sudden declines in vessel availability traders faced difficulty finding tonnage in the region.

Brokers on the other hand, report fixtures still hovering around 30 USD a tonne for 5.000 tonne rebars shipped from Adriatic to North Africa.

In the Baltic, North Sea and Continent region, freight rates enter third stable week however market players believe that the peak has been seen and the "best" is over.

Improving weather attracted vessel in the south to ice-free waters, dragging rates lower. 3.000 tonne generals from Baltic to Amsterdam-Rotterdam-Antwerp-Ghent (ARAG) see 23-24 EUR per tonne down from 25-26 EUR per tonne last week. 4.000 to 5.000 tonne generals from U.K. East Coast to North Spain on the other hand, offer 20-22 EUR a tonne.

About ISTFIX

ISTFIX is an independent research company which since 2008 concentrates on 2.000 to 10.000 dwt bulk carrier / general cargo vessels trading across Black Sea - Mediterranean waters.

Reports are compiled from information and fixture data gathered from owners, brokers and operators in the region and are presented in good faith to provide an unbiased benchmark for this coastal trade market. For more information and to sign up for the weekly ISTFIX email please visit ISTFIX.com.

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