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Trading activity is lower than previous week but rates are holding same position due to lack of tonnage and adverse weather conditions in the region. Charterers, meanwhile, are trying to bring rates down and introducing to market initial ideas as usd 29 pmt to Marmara.
Rates are remaining intact. There are opinions that market here is going to continue mainly sideward trend with slow successive declines for the rest of the winter period.
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.