Increased coal movements around the Sea of Azov have helped buoy sentiment and rates to a limited degree, at the very least halting the slow decline seen in recent weeks. And amid the dominant sideways trend, there is word of some even fixing slightly higher levels over last-done as charterers prove willing to pay premiums for early June dates. Rising activity for scrap and coal shipments in the Black Sea and Sea of Azov comes as an encouraging trend for owners, who remain nonetheless sceptical about how much uplift this activity can or will provide. Azov to Marmara shipments continue to fix high teens of US$17-18/mt on 5,000mt (46′) grain. Coal is fixing similar rates on this run. Inter-Black Sea grain ex-Novo to Marmara are at US$ 15-16/mt.
Get news and updates from the European short sea market by subscribing to the BMTI SHORT SEA REPORT today.