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Black Sea. Market research
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Experts from all over the world are closely observing the current situation in the Black Sea region.
What kind of picture are we seeing?
A queue of ships has accumulated at the entrance of the Sulina Canal (according to the MarineTraffic website)
So far, the limited work of Ukrainian ports is preventing the export of the majority of grain crops. An alternative, at the moment, is loading from the ports of Reni and Izmail on the Danube River
The crazy hype for Ukrainian grain caused the emergence of a mass congestion of coasters at the entrance to the Sulina Canal and the inability to load wheat in large-tonnage fleet led to overload of port grain storage facilities.
The clearing of the sea corridor from objects of military operations within the framework of the adopted peace agreement on the export of grain allowed the ports of Odessa, Yuzhny, and Chernomorsk to resume operations and begin grain exports by ships of the Handy and Supramax size type.
The crazy hype for Ukrainian grain caused the emergence of a mass congestion of coasters at the entrance to the Sulina Canal and the inability to load wheat in large-tonnage fleet led to overload of port grain storage facilities.
The clearing of the sea corridor from objects of military operations within the framework of the adopted peace agreement on the export of grain allowed the ports of Odessa, Yuzhny, and Chernomorsk to resume operations and begin grain exports by ships of the Handy and Supramax size type.
Ukrainian grain - what is the price of the problem?
— Even with the “traffic jams” and long wait times for passage of Sulina canal, Shippers and Buyers were willing to pay double the cost of chartering the vessel. The price of newly harvested crops was the reason for this behavior: the absence of export duties fully justifies the economic feasibility of the voyage.
How about Russian grain?
— Russian Black Sea ports (Novorossiysk, Tuapse, and Caucasus) were also overflowing with agricultural crops. However, there is a shortage of spot tonnage in this region: the number of shipowners who want to send their ships in this direction has significantly decreased. One of the reasons was the doubling of insurance premiums, which included military risks.
The price of newly harvested crop has almost doubled due to the floating export duty, which also does not please the Shippers and Buyers.
The price of newly harvested crop has almost doubled due to the floating export duty, which also does not please the Shippers and Buyers.
The Black Sea water area is closed for the entry of vessels under the Russian flag on the territory of Ukraine, Moldova, Bulgaria, and Romania. The ban also applies to the fleet, which had its flag changed from Russian during the current year.
AG CARGOBROKER
The world market is anticipating an improvement in the economy of the Black Sea region and the effective implementation of anti-crisis management measures in general.
We advise you to use the services of professionals in the marine cargo transportation market to control the behavior of your business objectives.
We advise you to use the services of professionals in the marine cargo transportation market to control the behavior of your business objectives.
