Activity remains extremely low on the small-tonnage shipping market of the Black and Mediterranean Seas. The situation has not improved even after the end of May holidays and Easter and the return of most players to the market.
At the request of the USAID’s Economic Resilience Activity (ERA), Research Mechanical Factory Karpaty will produce 300 grain hoppers this year (45% of the total annual volume that the company is to build for all customers).
Similarly to April, market participants expect another decline in rental rates for gondola cars due to a number of factors.
The April cargo turnover at the Ventspils Freeport became the lowest in the entire year. Thus, transshipment volumes plunged by 134,000 t or 17% month-on-month to 636,000 t in April 2024 compared with March.
Dynamics of average mazut prices, $/tonne
The EU Council has approved the extension of the duty-free trade regime for Ukraine for another year. The suspension of import duties and quotas for Ukrainian products will be effective from June 6 this year until June 5, 2025.
Gondola car price index, €/unit*
Since its launch in August 8, 2023, more than 1,600 vessels have used the temporary corridors for merchant ships sailing to/from the Black Sea ports of Ukraine.
The Riga Freeport handled about 1.4 million tonnes of various types of goods in April. Therefore, the total cargo turnover decreased by 108,000 t in April compared with March.
Gondola car rental rate index, €/day*