EMEA News
ISTFIX Black Sea & Mediterranean Freight Index Report: 2014 Week 16
The week was mostly under the influence of Easter. The markets were off to a good start due to pre-Holiday rush but rapidly slowed as Easter lull started. Earlier fixtures were initially good across the Black Sea and Mediterranean however rates declined during Easter, especially in Europe.
In this week's ex-Black Sea river port shipments, 2.500 tonnes of high stowage rice bran (stf 62) shipped via a 3.500 dwt unit fetched 72.000 USD from Temryuk to Bandırma, averaging about 20 USD a tonne on 1/1 stowage basis.
Similar freight rates were quoted for 3.000 tonnes of coal from Rostov region to Turkish Black Sea, on faster loading and discharge terms for river/sea going vessels.
On the conventional coaster front, 3.000 tonne of high stowage SFM cargo (stf 68) was fixed for 149.000 USD lump sum basis, from Ukraine to Ravenna. Calculated 1/1 stowage basis rate is thus around 33 USD which can be considered inadequate even for Easter market.
In Central Mediterranean, a 3.000 dwt unit open in Trieste booked steel products shipped from two Adriatic ports to two Algerian ports and reportedly earned more than 3.000 USD a day. On the same route 5.500 tonnes of a general cargo parcel from Koper to Bejaia was offered at 150.000 USD lump sum, corresponding to 27 USD a tonne.
According to Berlin based freight analyst BMTI, Easter caused rates and activity retraction in the Baltic, North Sea and Continent markets. Some owners, who were becoming desperate, fixed at rather low freights or were very much willing to do so. 3.000 tonne general cargo freight rates from Baltic to Amsterdam-Rotterdam- Antwerp-Ghent (ARAG) region lost as much as 3-4 EUR per tonne last week, which is down to 15-16 EUR per tonne from 18-20 EUR per tonne. 3.000 to 5.000 tonne scraps from Baltic to North Spain also came off by about 2-3 EUR per tonne and are now fixing at 27,5 EUR per tonne instead of up to 30 EUR per tonne last week.
