Freight rates from Ukrainian ports have been rising for the second consecutive week, accompanied by a noticeable slowdown in trading activity, ProAgro Group reports.
According to ASAP Agri, shipowners are increasingly quoting significantly inflated freight rates that exceed the levels required to offset higher bunker fuel costs. This has created a wave of price hype in the market, particularly on routes to East Mediterranean destinations.
As a result, some shippers who are able to delay shipments are choosing to postpone fixing deals. Meanwhile, those who must proceed with shipments are forced to accept higher freight rates.
In practice, freight costs have increased by approximately $2–4 per ton, depending on the route and vessel segment.
Overall, the Black Sea freight market is currently under pressure from elevated price expectations among shipowners, which is limiting liquidity and affecting the pace of Ukrainian agricultural exports.
Earlier, it was reported that at the beginning of spring, the Black Sea freight market faced a new wave of uncertainty. Rising bunker fuel prices, driven by geopolitical tensions in the Middle East, prompted shipowners to revise freight rates upward.
