Freight rates have stabilized or even lost dollar / two since last report. Everyone is working on strategy for NY holidays. Some charterers / shippers are willing to bring additional cargoes in December in order to catch January lull. Others are waiting January holidays in attempt to get spot tonnage and lower seafreights with better shipment budgets. Owners on other hand – also want to be secured for holidays. Main interest for them now long-run voyages to East Med, Central or even West Med and Continent. Such interest could potentially cut freight during forthcoming weeks for longhaul voyages and might also lead to some rise on short destinations like Black sea / Marmara closer to end of December. Number of owners are alternatively seeking COAs for December-January in attempt to close their tonnage in January but this actually has no practical sense bearing in mind usual sshex terms for load ports in Azov sea.
Free tonnage was observed on market during past week. Similar to Azov sea – rates here have lost a dollar but grain trade still remains quite active.
Weather conditions had been improved in the area and shipping is back to normal situation. Rates again have gained 1-2 dollars since our last report. Such increase is mainly due to risk of different sorts of potential delays like weather, ice and political uncertainty in the region. We have also surprisingly noted that more and more players preferring to use Euro currency here due to political risks and their number is increasing day by day.
Rates are remaining intact since last report. Demand and supply proportions would determine further market direction here.
Yeisk port has also declared starting of the Ice Campaign from 29th of November. In such conditions of winter navigation owners are asking usd 32 pmt to Marmara destinations, however Charterers / Shippers usually starting their figures only from usd 28 pmt.
Rates are almost stabilized here. Tonnage mainly engaged on long-terms contracts and spot vessels are extremely rare.