Banana selling prices in St. Petersburg ranged from USD 17.80 to 18.85 per box CIF from Monday to Tuesday, prices began to rise on Wednesday, reaching approximately USD 20.00 per box CIF. Nearly 1.35 million boxes were discharged in week 41 and around 1.7 million are expected for week 42.

The exchange rate during this period was 1 USD = 97.24 RUB. 

Prices for Ecuadorian bananas in the Mediterranean ranged from approximately USD 16.00-17.00 per box CIF to USD 21.00-23.00 per box, depending on the brand, volume, region, and packing. The highest prices were seen in Algeria, at around USD 23.00 per box CIF, and in Libya, where they sold for about USD 18.00 per box CIF.

Bananas from Central America or Colombia were priced at around USD 2.00 less per box.

In the Free Zone of Mersin, prices for re-exported Ecuadorian bananas ranged from USD 15.00 to around USD 18.00 per box. Bananas from Central America or Colombia were quoted at approximately USD 13.00-14.00 per box, depended on the brand, volume, packing, and box weight. The exchange rate was 1 USD=34.29 TL.

Last week, the Iranian market cooled, and prices fell from around 85,000 IRT per kg for Ecuadorian bananas to 73,000-75,000 IRT and around 63,000-65,000 IRT for Indian bananas. A box of 13.50 kg from India cost USD 10.00 CIF Bandar Abbas. Traders expect prices to decrease further as more bananas are imported from the Philippines. Unifrutti has added one more vessel to the Davao-Bushehr route, now operating four vessels, while Sumifru is expected to have two ships trading on the same route. The exchange rate was 1 USD = 63,750 IRT.

In the Ecuadorian Spot Market, average prices during the week ranged from USD 8.50 to 9.50 per box, only for the fruit , but prices were lower on Friday due to a drop in demand caused by the high prices.

No banana fixtures were put on record during the week. One large vessel was taken on T/C  for a voyage with fish at a reported rate of around US Cents 65 per cbft per month.

Time Charter  for  larger and smaller vessel was at similar levels of the previous week, ranging from 40 to 50 US cents per cubic foot per month, depending on the nature of the voyage and trade. For smaller ships, the rates were approximately 40 to 45 US cents per cubic foot per month.

Cool Carriers which celebrated its 40th anniversary in Limassol last week released the following statement:

“In an impressive expansion of their fleet, Cool Carriers, Mitsui & Co., and Nissen have proudly announced the launch of the Cool Emerald, the largest reefer vessel ever constructed, boasting a remarkable capacity of 904,950 cubic feet. This groundbreaking ship is the fourth addition to their innovative series of reefer ships, dedicated to transforming maritime perishable goods transportation.

The launch event, which took place at Takamatsu, Shikoku Shipyard, was attended by executives from all three companies and marked by celebrations highlighting the vessel’s cutting-edge features and environmental efficiencies. The «Cool Emerald» is tailored to meet the growing demands of global trade, offering unparalleled cold storage capabilities and state-of-the-art navigation technologies.

The partnership expects the completion of a fifth vessel in this series by December, further solidifying its leadership in the refrigerated cargo sector. This series of vessels underscores the commitment of Cool Carriers, Mitsui&Co., and Nissen to innovation, sustainability, and enhancing their service offerings in the global shipping industry.”

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $554.50         $684.50        

Gibraltar                    $590.00         $750.00                    

Panama Canal         $580.00         $735.00