Freight market sharply up – Russian invasion and higher bunker prices

By Brannvoll ApS, Denmark

Following the Russian invasion into Ukraine on 24 February, the freight rates, especially around Europe, have seen a sharp increase in terms of war premium and uncertainty concerning sanctions against Russian transport operations. Moreover, several large shipping companies no longer accept Russian goods for transport.

Supramax freight rates for petcoke from Houston, USA

Freight deals for delivery of 50,000t of petcoke from Houston to Iskenderun with spot laycans are discussed at around US$38/t on average, up US$14/t MoM.

Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$30/t (a US$9/t increase MoM) on average.

Shipping costs for the delivery of a Supramax-lot of petcoke from USG to EC India are at US$65/t on average, representing a US$15/t increase when compared with the previous month.