Unfavorable conditions seen on the commodity grain market, namely the ongoing decline in CIF quotes amid high domestic prices in Ukraine and EU countries, are putting strong pressure on the small-tonnage freight market of the Black and Mediterranean Seas.
Dynamics of average mazut prices, $/tonne
Market participants say that rental rates of gondola cars have changed somewhat in November, but the decrease has mostly slowed down compared with the previous month.
Gondola car rental rate index, €/day*
The October growth of cargo traffic and rates has turned out to be very short-lived on the small-tonnage market. To be fair, however, not many ship owners were expecting this upturn at all, considering the situation in main commodity markets of Europe and North Africa.
Starting from January 1, 2025, the Lithuanian freight operator LTG Cargo will change the basic tariffs for its services. According to the company, the update of the cost of LTG Cargo’s services is due to an increase in the tariffs of railway infrastructure operator LTG Infra.
Dynamics of average mazut prices, $/tonne
Gondola car rental rate index, €/day*
After a surge of activity and rising freight rates seen in the Mediterranean and, particularly, in the Black Sea in 1H October, the market has started to cool down this week. “We see even some slowdown of activity from Black Sea this week, maybe because of extremely bullish ideas from owners, making many charterers…… Read more »
Rental rates of freight cars remained unchanged in October compared with September. Only the rental rates of box cars with a body capacity of 161-175 cu m and fitting platforms changed insignificantly due to currency fluctuations.