Despite some gradual slowdown of activity, the so-called side trend continues in the Black Sea, with average fixing levels still at their historical highs as for early July. It seems like owners still succeed to keep rates sable thanks to limited tonnage list in the basin.
Ukrainian Danube ports keep operating at maximum capacity, with huge gap in freight rates:
A couple of deals for shipments of 5-6,000 t of wheat or corn from Reni to the Marmara Sea are negotiated at $99-107/t;
Charterers offer $98/t for transportation of 6-7,000 t of wheat from Reni or Izmail to the Marmara Sea and up to $120/t to Mersin and Alexandria given mid-July or 2H July laycans;
Meanwhile, the contract for shipment of 6,600 t of wheat from Reni to Lebanon (with 8 days at Sulina Canal on owner’s acct) has been concluded at $130/t, which is equivalent to $15-17k daily bss RV given AWRP on owner's acct.
As for grain traffic ex EU ports:
Charterers are ready to pay $46-47/t for shipment of 8,000 t of barley (sf 54`) from Constanta to Larnaca with 1,500x/2,000x l/d rates and spot laycans, which corresponds to $41-42/t bss almost 9,000 t of heavy grain and is equivalent to $7.5-7.8k daily bss RV;
5,000 t of corn are carried from Varna to Bari nearly at $43/t given 2,000 sshex bends l/d rates;
Owners have succeeded to get more than $30/t for transportation of 5,000 t of wheat from Constanta to the Marmara Sea, while some traders still insist on mere mid-$20s/t for similar shipments from Varna.
As for other cargoes:
Charterers offer high $70s/t for shipment of 12-13,000 t of coal from Bulgaria to Poland with 5,000x/7,000x l/d rates and prompt laycans, which is equivalent to very strong $21-22k daily for one laden leg with minimum ballast leg (e.g. from the Marmara Sea to Bulgaria) and exceeds daily earnings of standard Handysize vessels;
Exporters are ready to pay $37/t for transportation of 10-12,000 t of bulk minerals from TBS to EgyptMed with 2,500x/2,000x l/d rates and 2H July laycans, which is equivalent to $7-7.5k daily bss RV;
5,500 t of coal are carried from Constanta to Izmir at $35/t, which is equivalent to quite strong $7.5k daily bss RV;
The deal for transportation of 4,000 t of scrap (sf up to 75`) from Galati to the Marmara Sea is rumored to have been signed at mid-high $80s/t;
Transportation of 3-4,000 t of sulfur from Constanta to Abu Qir is estimated by ISM at around $50/t.
Exports from Russian ports are driven mainly by regular shipments of steels:
The deal for shipment of 3-3,300 t of billets from Novo to the Marmara Sea has been signed at $39/t given 4 ttl days sshex l/d rates, which is equivalent to $5.6-6k daily bss RV;
Brokers suggest low $30s/t for transportation of 13-14,000 t of steels from Novo to the Marmara Sea given July 19-21 laycans and 9 ttl days l/d rates;
Shipment of 7,000 t of urea from Tuapse to Constanta is estimated by ISM at low $40s/t.