Rental rates have held steady in the Baltic countries in December compared with November. The changes in some rental rates can be explained exclusively by currency fluctuations.
Considering the upcoming Christmas and New Year holidays as well as the absence of any considerable activity growth on the markets of the Black and Mediterranean Seas, ship owners seem to have resigned themselves to the fact that they will not manage to raise freight rates even slightly till the end of the year.
Dynamics of average mazut prices, $/tonne
Gondola car rental rate index, €/day
Despite the fact that the Christmas and New Year holidays are just a couple of weeks away, the excitement from the large-tonnage market has not spilled over to the coaster segment of the Black and Mediterranean Seas. Moreover, the regional cargo traffic has even decreased slightly during the week
Dynamics of average mazut prices, $/tonne
Gondola car rental rates have been growing in December. Market participants explain this by active shipments of iron ore. Thus, iron ore exports reached 2.3 million t in November, up 20% month-on-month. In particular, iron ore shipments to seaports surged by 66% month-on-month to 1.3 million t.
Gondola car rental rate index, €/day*
The growth of the large-tonnage market, worsening weather conditions and a slight increase in grain and fertilizer shipments failed to help small-tonnage owners to raise freight rates at least slightly in the Black and Mediterranean Seas. The fact is that the regional vessel list remains excessive.
Gondola car rental rate index, €/day*