Black Sea: small-tonnage rates ex Romania and Bulgaria keep climbing up, while those ex Ukraine flat
30.03.2023 12:59
The cargo flow looks quite stable in the Black Sea. Grain remains the only regularly shipped cargo in the basin.
Market players report limited number of open 3-5k dwt vessels in the area, therefore rates for such shipments from Romanian and Bulgarian ports have inched up again:
-
Charterers offer $27/t for shipment of 3-3,500 t of wheat from Constanta to EC Greece given 1,500x/1,000x l/d rates, which is equivalent to $2.9-3k daily bss RV;
-
Other traders are ready to pay $24/t for transportation of 3,000 t of barley (sf 54`) from Bulgaria to Marmara given 1,000 sshex bends l/d rates (equivalent to $3-3.2k daily bss RV);
-
The rate of $38/t is said to be the best seen from owners for shipment of 3,000 t of meal (sf 58`) from Constanta to Poti;
-
The deal for transportation of 3,000 t of barley (sf 53) from Bulgaria to Larnaca has been signed at a rate close to $40/t, which means $3.4-3.7k daily in TCE bss RV;
-
Meanwhile, charterers offer mere $32/t for shipment of 3,000t of barley (sf 54-55`) from Constanta to Tunisia, which hardly reaches even $2.2k daily in RV TCE, even with very high l/d rates of 3,000 sshex bends;
-
As for larger grain stems, brokers suggest low-mid $20s/t for transportation of 10-12,000 t of wheat from Bulgaria to the Adriatic Sea bss 1/1;
-
Traders offer around $35/t for shipment of 6,000 t of barley (sf 54`) from Constanta to Tunisia with 1,500 sshex bends l/d rates (equivalent to $3.8-4k daily bss RV);
-
The deal for transportation of 6,000 t of corn from Constanta to EgyptMed is discussed at very low $30s/t with 1,500x/1,250x l/d rates (equivalent to $4-4.1k daily bss RV);
-
Charterers offer $40/t for shipment of 3-4,000 t of agri products (sf 68`) from Varna to Israel with 1,000 sshex bends l/d rates, which corresponds to mere $28-29/t bss 5,000 t of heavy grains.
Congestions at the Sulina entrance have grown a bit, but rates from the Danube hold steady. Note that current earnings for shipments ex Danube ports could be better than those from the EU only in case of a quick (up to 4 days) passage via Sulina or Bystre, or in case of a non-AWRP vessel:
-
Ship owners are still seeking to get at least $45/t for transportation of 5,000 t and $47-48/t for shipment of 3,000 t of wheat from Reni or Izmail to Marmara given 6-7 days of waiting time and AWRP on owner’s acct (equivalent to $3.5-3.8k daily bss RV and $2.3-2.6k daily bss RV, respectively);
-
Some charterers have succeeded to fix 6,000 t of wheat from Reni at mere $42/t to Marmara and $53/t to Lebanon given 7 days of waiting time and AWRP on owners acct (both equivalent to $3.5-4k daily bss RV);
-
Charterers are ready to pay $49/t for transportation of 3,000 t of barley (sf 54`) from Izmail to Marmara given 1,000 sshex bends l/d rates (equivalent to $2.4-2.6k daily bss RV given an AWRP of $40-45k);
-
Meanwhile, other charterers offer mere $46/t for shipment of 3,000 t of wheat from Reni to Izmir with 1,000 sshex bends l/d rates, which hardly reaches even $2k daily in TCE bss RV;
-
3,500 t of meal (sf 56`) are offered for transportation from Reni to Marmara at $50/t, to Mersin at $63/t, given 1,000 sshex l/d rates, 7 days of waiting time and AWRP on owner’s acct (equivalent to $2.2-2.5k daily bss RV for a 4.6k dwcc vessel);
-
Charterers offer $53-54/t for shipment of 5,000 t of wheat from Reni to Bari or Tripoli given 1,000x/1,200x l/d rates and mid-April laycans, which hardly reaches even $3k daily in TCE bss RV given 7 days of waiting time and AWRP on owner’s acct;
-
Other traders are ready to pay $64/t for shipment of 6,000 t of corn from Izmail to Ravenna with 1,500x/2,000x l/d rates and April 5-12 laycans, which is equivalent to quite strong $5-5.5k daily bss RV;
-
The COA for transportation of several 5-6,000 t lots of corn from Ukrainian Danube ports to Alexandria with 1,500 sshex bends l/d rates and 5 April onwards laycans is negotiated at $55-56/t bss 1/1;
-
Charterers are ready to pay $45/t for shipment of 3,000 t of wheat from Galati to EC Greece with 1,000 sshex bends l/d rates and early April laycans.
As for traffic ex Turkey, Russia and Georgia:
-
Charterers target $21/t for shipment of 2,400 t of steels from Bartin to Constanta with 1,000 sshex bends l/d rates and 6-8 April laycans;
-
The deal for transportation of 3,000 t of urea in bb from Poti to Giurgiulesti is discussed at mid-$40s/t with 1,000x/1,250x l/d rates and 3 days of waiting time on owner’s acct;
-
6,000 t of steels are carried from Novorossiysk to Diliskelesi at around $27/t with 1,500c/1,500x l/d rates (equivalent to $5.3-5.5k daily for vessels with no AWRP required and $2k less with AWRP on owner’s acct);
-
Meanwhile, the deal for transportation of 3,100 t of pig iron has been signed at extremely strong $33.75/t with 1,000x/1,500x l/d rates and 4-10 April laycans, which is equivalent to $2.7k daily bss RV even in case of AWRP on owner’s acct and exceeds $4k daily for vessels with no AWRP required;
-
Charterers offer low $60s/t for shipment of 7,000 t of agri products (sf 57-58`) from Novorossiysk to Morocco given 2,500c/3,000x l/d rates, which means more than $5k daily in TCE bss RV for vessels with AWRP required and $7-7.3k daily for non-AWRP vessels;
-
1,750 t of coal are carried from Kavkaz to Mersin at $70/t given 1,000 sshex bends l/d rates;
-
Besides, charterers are ready to pay $55-56/t for shipment of 5-6,000 t of bulk minerals from Kavkaz port to Abu Qir with 2,500c/1,000x l/d rates and 4-7 April laycans.