The Russian Federation’s attack on the Danube port of Reni on the night of July 24 has led to a significant increase in freight rates for the transportation of grain and oilseeds by barges from the ports of Reni and Izmail (both in Odessa region) to Constanta (Romania), freight for transportation by coasters has increased significantly, the press service of the Ukrainian Grain Association (UGA) reported.
According to the report, as of June 27, 2023, freight rates for transportation of corn and wheat, rapeseed and barley by barges to the Romanian port increased by EUR8/tonne – to EUR38/tonne and EUR43/tonne respectively. At the same time, freight for transportation of granulated sunflower meal increased by EUR7/ton – up to EUR45/ton.
Besides, freight rates for wheat and corn transportation by coasters from Reni and Izmail ports to Crete increased by USD4-6/tonne – up to USD42-44/tonne, to Israel and Eastern Mediterranean – by USD3/tonne, to USD48-50/tonne and USD43-45/tonne respectively, to the east coast of Italy – by USD2-5/tonne to USD50-53/tonne, to the east coast of Greece – by USD2-3/tonne to USD39-40/tonne. Rates for grain transportation to Spain increased by USD1-4/ton to USD56-59/ton.
At the same time, UZA noted that shipowners demanded payment of additional military insurance premium for shipments to Spain, Israel and the eastern coast of Italy.
According to its data, freight on transportation of rapeseed meal by coasters from Reni and Izmail ports to Spain increased by USD2-5/tonne to USD77-80/tonne, granulated sunflower meal to Marmara by USD3-4/tonne to USD43-44/tonne, non-granulated by USD3/tonne to USD48/tonne.
“At the beginning of the week, amid mass anxiety, some shipowners refused to provide their vessels to call at Sulina (Romania), but later returned to fulfill their obligations,” UZA stated.
