The number of available bulk carriers for coal shipments in the Black Sea fell by 21% over the past month and by 28% year on year, according to data from the Center for Price Indices (CPI) cited by Kommersant. A total of 97 vessels are still carrying cargo.
The decline follows an increase in drone attacks in the region. After a strike on the Turkish freighter Mv Reyhan Sari, which was carrying coal from the Russian port of Taman to Trabzon on July 22, insurance companies have refused to cover ships entering the Azov-Black Sea basin, the newspaper reported.
Medium- and large-tonnage bulk carriers are expected to move to other waters. Small vessels have been put into cold lay-up until the situation normalizes. Against this backdrop, Russian exporters have not concluded a single coal sale deal in the Black Sea over the past week, CPI noted.
Ukrainian drones have attacked more than 200 tankers and other cargo ships in the Black and Azov Seas since July 6. According to Reuters, these attacks have already disrupted Russian grain exports: if the current intensity continues, wheat shipments could fall by 30–35 million tons, about 15% of global trade in the crop.
A similar shortage of tonnage is being recorded in the Sea of Japan. Rising demand for Russian coal in South Korea has pushed up freight rates from the port of Vostochny by 5–10% over the week, depending on the route, Kommersant reported. Analysts warn that logistical constraints could push up prices for Russian coal, but this will not compensate exporters for higher transport costs.