The slightly falling rate trend on the European short sea market continued this week. The European Short Sea Index of the sector service BMTI fell by 0.9% to 21.32 points.
Declines on the Mediterranean and Black Sea routes in particular pulled the index down, while freight rates in the Baltic Sea region remained relatively stable thanks to high demand for grain. The index rate for consignments of 3,000 tons from the Baltic ports into the ARAG range remained virtually unchanged at € 25.46/t.
A new forecast report from S&P Global Ratings should provide some hope in the short sea business, according to which the slump in the European steel industry will not be as drastic as in the financial market crisis of 2008/09. Although demand for steel could fall by 10% this year, it is likely to return to the 2019 level next year. Steel is one of the most important types of cargo for mini-bulkers.

Courtesy M.H. / HansaOnline