ISM Freight Market Weekly Digest // week 28
International Seaborne Market
Keep your finger on the pulse of the freight market with ismreport.com
Kindly assess the summary of last week's developments below. Access the complete content by signing up for a free trial period
With persisting shortage of fresh requests and further tonnage building up in the Mediterranean Sea, Handysize owners are trying at least to stop the rates decline. Supramax and Panamax markets remain under pressure as well. Some charterers have reportedly succeeded to fix a vessel for shipment of 30,000 t of grains from POC to SpanMed below $20/t, although a couple of similar deals are being negotiated at $21-22/t.
The situation remains unfavorable for Handysize and Supramax owners in the Baltic & Continent. Players report the shortage of new cargo offers, while the tonnage list remains long (according to an estimation by a market participant, about 100 vessels of are open in the region).
ECSA Handy rates are holding steady this week, with a bit more cargoes entering the market and slowly thinning tonnage list. T/A TCT rates for large Handy vessels bss APS ECSA are hovering at $15-16k daily; rates for smaller Handies are voiced at mid-$10s k daily.
The Supramax/Ultramax market looks a bit softer in the Indian Ocean due to slightly slower ore and salt traffic from India. At the same time, the cargo flow and tonnage list remain balanced in South Africa.
Still no signs of brisker activity can be seen in the Black Sea. Lack of fresh requests and significant surplus of open vessels are keeping rates under pressure. Thus, charterers target up to $19/t for shipment of 6,000 t of wheat from Izmail to Lebanon, while owners are seeking to get at least $21-22/t (equivalent to $1.2k daily vs. $1.7-1.9k daily bss dely Marmara redel EMed).
The vacation season is gaining momentum in North Europe. As a result, trade is decreasing to a minimum. Ship owners located in the Continent often ballast to the western Mediterranean in search of cargoes (although the situation is quite difficult there as well).
领英推荐
Cargo offers remain sporadic in the Azov Sea, with a huge surplus of open sea-river vessels reported. Freight rates stay on bottom. At the moment, charterers target $14-15/t for shipment of 3,000 t of corn from Azov/Rostov to Marmara, while owners are seeking to get at least $16/t (equivalent to mere $0.6-0.8k daily vs. $0.9k daily bss dely Kerch straits redel Marmara).
Stay updated on the freight market with ISM by signing up for a free ONE-WEEK TRIAL access at ismreport.com
Trade still slow amid lack of fresh cargoes
Overall situation mixed
Situation starts recovering in both Hemis
Sentiment continues worsening this week
Should you have any inquiries, feel free to reach out to our sales team directly: Anna Bavbekova, [email protected], +38 (067) 798 82 70