Nothing new is happening in the markets. It’s Christmas lull and, as was predicted, rates are continuing to fall down.
According to Rufko brokers, the correction by now is quite substantial.
This week’s freight rates from Rostov to the Sea of Marmara are $30-32 per ton, and from Yeisk to the Sea of Marmara $28-30.
Freight rates to SE Black Sea ports make $28-30 per ton from Rostov and $26-28 per ton from Yeisk.
The Caspian Sea activity is also decreasing for both steels and agri cargoes, as result the freight rates are also sliding down.
The weather is still mild and the forecast is favorable. Presumably, the market is going to stay in more or less similar conditions for the next two weeks.
We remind you that the rates cited in this article are average market rates. We ask our readers to pay attention that this information is not a commercial offer and cannot be an example for comparison in commercial disputes and arbitration proceedings.