According to Pavel Lysenko, analyst with ASAP Agri, freight broker with Atria Brokers, no major shifts were observed on the Black Sea market at the beginning of February. Fresh cargo orders remained limited, while tonnage choice remained wide across all DWT sectors. This week, Handysize and Coaster rates saw little change from last done levels, as owners strongly resist further rate cuts, particularly, given the already extremely low daily earning dynamics (TCE).

The Panamax sector remains under strong bearish sentiment due to the lack of firm stems from Ukraine. According to Atria Brokers, current Panamax freight rates for corn shipments from POC ports to South China are estimated at 31-32 USD/MT.

Handysize rates for corn shipments from POC ports to East Coast Italy remained steady at 15-16 USD/MT.

In the Coaster segment, freight rates have remained mostly stable on all directions, with minor fluctuations. Freight for the shipment of 6,000t of corn from Ukrainian Danube ports East Coast Italy has been estimated by 1 USD/MT higher w/w, at 26-28 USD/MT.

The barge market continues to suffer from a severe cargo shortage from Ukrainian Danube ports. Spot shipments of 1,000-3,000t of corn from Izmail or Reni to Constanta are assessed at 8-9 EUR/MT.

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