Activity has expectedly increased on the Azov, Black Sea and Mediterranean small-tonnage shipping markets after the holidays in Muslim countries. This week, players note increased offer of Egyptian fertilizers, Ukrainian, Russian and EU grains, as well as Turkish steel products.
Since August 8, 2023, when the temporary corridor of the Ukrainian Navy became operational, about 40 million tons of cargo have been exported from the ports of Pivdennyi, Odesa and Chornomorsk, including more than 26 million t of agricultural products.
Dynamics of average mazut prices, $/tonne
Almost 7 million t of agricultural products were exported from Ukraine in March 2024 (down 5% or about 350,000 t compared with February). In particular, exports included 5.89 million t of grain (down 5% year-on-year or 300,000 t), 660,000 t of vegetable oil
The stevedoring companies operating in the Riga Freeport handled almost 1.6 million t of various types of cargo in March 2024, showing a 123,000 t hike compared with February. The increase is due to brisker transshipment of general cargo
Activity has expectedly declined to a minimum on the small-tonnage shipping markets of the Black, Mediterranean and Azov Seas amid holidays in Muslim countries. Given extremely slow cargo traffic, ship owners are forced to make concessions
Dynamics of average mazut prices, $/tonne
This year, Ukrainian Danube Shipping Company plans to modernize five vessels at the ÖSWAG shipyard in Linz, Austria. Preparations are underway to replace the engines on the first vessel, Captain Antypov.
The Liepaja SEZ cargo turnover did not change much in March compared to February. The port operators all together handled about 637,000 t of cargo (up 2% month-on-month or up 13,000 t against February).
Despite the return of European players from the Easter holidays, the market activity has been very low in the Black, Mediterranean and Baltic Seas. Moreover, owners are increasingly showing rush and desperation as Eid al-Fitr holidays approach. “We see many spot vessels being ready to accept lower rates in order to get fixed before…… Read more »