At the beginning of spring, a new wave of uncertainty emerged in the Black Sea freight market. Military developments in the Middle East have caused a sharp increase in bunker fuel prices, forcing shipowners to revise their freight rate expectations upward, ProAgro Group reports.
According to ASAP Agri, rising fuel costs have affected all shipping segments. Analysts note that shipowners are now generally seeking $2–4 per ton higher freight rates, depending on the route, to offset the increased fuel expenses.
As a result, Ukrainian charterers are facing difficulties in securing available tonnage. The widening gap between bids from cargo owners and offers from shipowners is slowing negotiations.
Due to this mismatch, the number of concluded deals on the freight market during the week remained limited, while overall fixing activity stayed relatively low.
Higher maritime transportation costs could further affect the competitiveness of Ukrainian grain on global markets, especially amid ongoing geopolitical tensions and volatility in fuel prices.
Earlier it was reported that freight rates in the Ukrainian market remained largely stable in the final days of winter, particularly in the Handysize and Coaster segments.
