Ukraine has significantly increased its exports by sea, but freight has become more expensive.

Vessels with a combined deadweight of 8.8 million tons entered Ukrainian seaports in December 2023, 92% more than in November. Because of the temporary sea corridor’s operation, the proportion of transshipment volumes in the deepwater ports  and the Danube is becoming increasingly similar to traditional values.

In November, out of 4.5 million tons of deadweight, 1.7 million tons fell on the Danube ports and 2.8 million tons on the Black Sea ports. Then in December, the corresponding indicators were 1.3 million tons and 7.5 million tons.

However, in December the Black Sea freight market was characterized by a restrained activity level. Shipments from Ukrainian ports took place regularly, which allowed shipowners to raise rates slightly at the end of the period. Grain continued to be the main cargo during this period. Throughout December, relatively high activity was observed in the direction of the ports of Odesa.