Activity keeps decreasing gradually on the Black Sea freight market amid slower exports of grains, minerals and steel scrap from Romania and Bulgaria. Shipping volumes ex Ukrainian Danube ports are steadily high, while charterers are trying to cut rates at least slightly (no success so far). However, there is definitely no further rate upturn as traders simply refuse to sign deals. At the moment:
Charterers offer $110/t for shipment of 5,000 t of corn from Reni to eastern Greece with 1,000x/1,500x l/d rates, which is equivalent to $7.5k daily bss RV even with an AWRP and 12-14 days waiting times on owner's acct;
Charterers are ready to pay high $90s/t for transportation of 5-7,000 t of wheat from Reni to the Marmara Sea and up to $120/t to Egypt or Lebanon, while owners mainly want to get $110-115/t and $135-140/t, respectively;
Owners are seeking to get at least $110/t for shipment of 5-6,000 t of grain from Reni or Izmail to the Marmara Sea with max 7 days waiting times on owner’s acct;
The deal for transportation of 5-6,000 t of wheat from Varna to the Adriatic Sea is discussed at $42-43/t, which is equivalent to $5.1-5.4k daily bss RV.
As for other cargoes:
Charterers offer mere $100k bss lumpsum for shipment of minerals in pallets by an 8k dwt vessel from Bartin to Constanta given 5 ttl days sshex l/d rates and 2H June laycans (equivalent to mere $3.5k daily bss RV or to $5.1-5.2k daily for a one laden back-haul leg);
Transportation of 3,000 t of salt in bb from Eregli to Bulgaria is negotiated at $26-28/t;
Charterers keep looking for a 6-7k dwcc vessel to carry out spot shipment of 4,000 t of steel scrap (sf 75`) from Galati to the Marmara Sea, offering high $70s/t, which corresponds to high 40s/t bss 6-7,000 t of dwt cargo;
Up to 3,000 t of urea are carried from Georgia to TBS at an extremely strong level of high $30s/t.
Rates ex Russian ports are gradually climbing up following the growth of the Azov Sea market:
Charterers are ready to pay about $50/t for shipment of 5-5,200 t of rebar from Novorossiysk to Alexandria with 3,000c/2,000x l/d rates and June 23-30 laycans;
Brokers suggest high $60s/t for transportation of 5,000 t of WRIC from Novorossiysk to Annaba with l/d rates of 2,000 sshex bends and June 20-23 laycans;
Charterers offer low $70s/t for the shipment of 3,800 t of pulp in bales from Novo to Sfax;
Carrying 10,000 t of AN in bb from Novo to Durres with l/d rates of 1,500x/2,000x and June 18-20 laycans is estimated by ISM at high $40s/t, while shipment of 3-5,000 t of urea from Novorossiysk to Constanta with l/d rates of 2,000c/2,000x is quoted at low-mid $50s/t.