The number of new spot cargo offers remains extremely small in the Black and Mediterranean Seas, which is quite to be expected given the end of grain season. At the same time, firm cargo offers for 1H July are also quite few, as charterers do not hurry to enter the market with new grain, trying to prevent an upturn in freight rates. Note that charterers so far succeed despite the fact that many owners try to push rates up more aggressively. At present, traders offer mere $12/t for transportation of 25,000 t of wheat from Nikolayev to Tunisia with l/d rates of 8,000x/2,000x, which is equivalent to mere $2k daily bss dely psg Canakkale. Owners are seeking to get $9-10/t for shipment of 25-30,000 t of grain from the Kavkaz port road to Egypt in 1H July and $11-12/t for transportation to Morocco; they voice levels by $1/t higher for shipments from Odessa. As for forward dates, charterers are ready to pay up to $15/t bss free DA in the UK for transportation of 30,000 t of corn from Odessa to the UK in mid-winter.
Players note some recovery in shipments of steel products from Turkey to the EU. Thus, shipment of 25-26,000 t of HRC + WRIC from Iskenderun to Bulgaria with 6,500c/5,000x l/d rates costs about $6/t. The contract for transportation of 20,000 t of coke (sf 46`) from southern Spain to Antalya is discussed at $7-7.75/t with l/d rates of 20,000c/4,000c.
New fertilizer offers continue to enter the market at a previous pace. Charterers offer $12/t for transportation of 28,000 t of fertilizers from Tunisia to Santarem with l/d rates of 4,000x/2,500c and late June laycans, the equivalent of which barely reaches even $2k daily bss dely CMed considering high port duty in this Brazilian port. Shipment of 33,000 t of phosphates from Morocco to Tanzania with a discharge rate of 2,200 shinc is estimated by ISM at low $20s/t. Transportation of 37,000 t of fertilizers from Egypt to Brazil with l/d rates of 4,000c/5,500c and early August laycans is quoted by brokers at $15-16/t bss 1/2. Owners are seeking to get about $28/t for shipment of 40,000 t of fertilizers from Samsun to Pipavav with 4,000c/8,000x l/d rates and July 15-20 laycans.
Charterers are also trying to keep time-charter rates stable. Thus, operators are ready to pay mere $2k daily for an about 28k dwt vessel bss dely passing Canakkale via BlSea redel Adriatic, while most owners want to get at least $3.5-4k daily bss dely passing Canakkale and $4.5-5k daily bss dely APS BlSea. The deal for an about 33k dwt carrier bss dely APS Marmara redel Continent has been signed below $4k daily. A ship of 36k dwt has been chartered slightly below $7k daily bss dely APS Algeria redel WC Mexico. Note that the short-period chartering market has expectedly perked up ahead of the new grain season. Corresponding rates are gradually growing, which certainly adds optimism to owners. Vessels of 30-35k dwt are now fixed at 6-7k daily bss dely BlSea/EMed redel Atlantic for a 2-5 month period, while carriers of 35-40k dwt can get up to $8k daily on the same basis.