Freights are climbing again in the southern European trades to the delight of owners working in the area and running against the prevailing summer holidays of northern Europe. Freights for grain ex-Rostov to Marmara are up to US$ 26/mt while grain ex-Rostov to the Egyptian Med is up to US$ 42-43/mt, depending on terms (basis grain of 5,000mt). Owners are seeking higher rates on grains from Danube River ports as well with grain cargoes from Reni now fetching US$ 17/mt and even US$ 18/mt to the Sea of Marmara (stowage of 53′) on 5,000mt. Grain ex-Reni to the Italian Adriatic has been fetching rates of US$ 26/mt, brokers report. Danube freights are nonetheless far below their levels of one year ago, owners note, when Reni/Marmara trades were up to US$ 42/mt (now securing less than half of this).

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