ISTFIX Black Sea & Mediterranean Freight Index Report: 2014 Week 11

by Istanbul Freight Index, ISTFIX
Friday March 21, 2014

Black Sea freight rates finally showed meagre improvement signs amid booming Western Mediterranean and Continent trade. Ex-Black Sea rates staged a slight uptick this week as weather improved, allowing cargo flows to the basin, but a major improvement will be seen only in the coming weeks, some brokers said.

Intra- Black Sea, a 1.500 dwt small coaster booked full cargo of steel from Nikolaev to Braila for a lump sum of 49.000 USD returning a significant daily rate to the owner, who was in a very lucky position in Nikolaev.

A 5.000 tonne billet parcel was shipped from Poti to İskenderun at 28,5 USD a tonne slightly up from the previous week, while Mariupol-Central Mediterranean cargoes in 5.000 tonne parcels are still trading at around mid-low 30 USD a tonne. 6.500 tonnes of wheat fetched 25 USD a tonne from Constanta to Barletta with average terms.

As for Central Mediterranean, 4.600 tonnes of pig iron cargo was fixed from Ploce to Porto Marghera for about 18 USD a tonne earning as high as 4.500 USD a day on such a short fixture. In the Western Mediterranean, 6.000 tonne cement from Leixoes to Mostaganem fetched about 22 EUR/tonne which is a very good figure as the rates kept rising.

Finally, in the Baltic, North Sea and Continent region, freight rates stabilized at firm levels and owners still seem to have the upper hand against charterers. In the continent region 3.000 tonne general cargoes from Amsterdam- Rotterdam-Antwerp-Ghent (ARAG) region to Irish Sea are now getting 20 EUR/tonnes while return cargoes are offered at around 12 EUR/tonne. 3.000 to 5.000 tonne grains are fetching 25-26 EUR per tonne from Northern Baltic to ARAG, according to Berlin based BMTI.

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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