Baltic Sea coaster market sees summer lull
The Baltic Sea coaster market remains inactive. The number of spot cargo offers is still minimal. However, owners are supported by limited tonnage list in the basin and high bunker prices. This allows owners to keep rates stable. Some owners continue to work on shipments ex Russian ports. These shipments still require premiums, but with the entry into force of EU sanctions, the number of relevant cargo offers continues to decline, adding negativity to the overall market picture:
Carrying 4,000 t of dwt cargo from Russian Gulf of Finland ports is indicatively estimated by brokers at around €85/t;
Meanwhile, shipment of 3-6,000 t of steel scrap (sf 75`) from St. Petersburg to Iskenderun is negotiated within $90-100/t;
Transportation of about 4,000 t of grain from Lithuania to ARAG ports costs mid-€20s/t.
The Continent market is still looking a bit brisker. Owners reluctantly consider back-haul cargoes towards the Baltic Sea, trying to avoid this region:
The transportation cost of 4,500 t of dwt cargo from ARAG ports to Bremen is discussed at around €300k bss lumpsum;
Charterers offer about €20/t for shipment of 4-5,000 t of fertilizers from Eemshaven to Kunda, but owners voice ideas closer to mid-€20s/t;
A 2,000 t cargo lot has been fixed from northern France to Santander at €45/t;
The charterer offers around €35/t for transportation of 6,000 t of minerals from northern Spain to Italy (two discharge ports).