Turkey’s Minister of Transport and Infrastructure Abdulkadir Uraloglu has announced another increase in fees for vessels passing non-stop under the Montreux Convention through the Istanbul (Bosporus) and Canakkale (Dardanelles) Straits.
The situation remains discouraging for small-tonnage owners even after the end of holidays in Muslim countries. Despite an almost 10% decline in spot tonnage list seen in the Black and Mediterranean Seas during the week, owners have failed to benefit from it given the total shortage of firm cargo offers.
Dynamics of average mazut prices, $/tonne
Gondola car rental rate index, €/day*
The small-tonnage shipping market is still waiting for the new grain season. The vast majority of operators are only thinking about how to minimise losses and hold out until the market picture normalizes.
Dynamics of average mazut prices, $/tonne
Gondola car rental rate index, €/day*
The small-tonnage shipping market is still looking extremely weak and depressed virtually in all freight sections. At the same time, freight rates hold steady in the Black, Azov and Mediterranean Seas as they simply have nowhere to fall.
The rental rates for gondola cars are climbing up in June. Although in May the increases in June rental rates were expected at about ₴20/day (hereinafter VAT excluding), the actual growth turned out to be more significant.
Dynamics of average mazut prices, $/tonne