Фрахтовый рынок Азовского и Каспийского моря. Неделя 38 2020

Azov and Caspian Freight Market, Week 38, 2020

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    Events on the Azov region commodity market and its state had an increasing impact on the development of the freight on the 38th week. The formation of cargo flows or their reduction may not only affect, but also bring down the Azov freight market, which is not as volatile as before. According to Glogos Project, the minimum and maximum thresholds of rates have decreased compared to previous years; which is a very serious challenge for many owners. Owners of vessels aged more than 30 years are particularly affected. In a low market, they are considered in the last turn, and their ownership and operation costs are higher than that of more modern vessels.

    The tender of the Turkish Grain Board (TMO), which was held during the reporting week, formed a sideways vision of the development of the commodity and freight markets for charterers and owners. In total, according to the results of the tender, about 440 thousand tons of Russian grain will be delivered. This is quite a large volume, however, the demand for parcels of 3-5 thousand tons with shipment by coasters has declined from Turkey’s side at the moment. It looks like Turkish traders decided to try to mark the freight rate, and in a good scenario, to fix it on the growing market. Shipments will be made in a relatively short period of time (from September 23 to October 16) and in large parcels; this should cover the need for goods and reduce the speculative pressure on prices.

    Owners also believe that the number of voyages from the Sea of Azov ports will grow, and this will pull the freight market up. They have already offered rates of $24 on the Rostov on Marmara basis, of $45 and above to the Adriatic. At the same time, on the 38th week, the working rate was $21 to Samsun and $23 to Marmara per ton of wheat from Rostov. However, at the end of September, the market still does not have such amount of cargo, so the rates from the Azov sea ports cannot continue to grow actively. The situation is different for Russian-flagged vessels, especially those that can perform cabotage voyages. The number of grain parcels from river ports for roads transshipment is growing significantly; in the meantime, some charterers may show more flexibility in negotiating rates than for shipments from the Azov sea ports.

    On the 39th week, a standstill in grain shipments is expected, which is primarily due to the International Grain Round held from September 22 to 25 in Gelendzhik. Most of exporters and traders participate in it, therefore the activity in concluding deals with Turkish buyers will decrease. This standstill is likely to have a negative impact on the freight market, which may experience a slight drawdown.

    According to Glogos Project, on week 38, freight rates for 3,000-5,000 dwt vessels for wheat parcels to the Sea of Marmara made $23 pmt from Rostov and Azov, $22 pmt from Yeisk and Taganrog, and $20 from Temryuk.

    Freight rates for coal to the Sea of Marmara made $22 pmt from Rostov and Azov, $21 pmt from Yeisk and Taganrog, and $19 from Temryuk.

    Freight rates in the Caspian did not change.

    Freight rates for 3,000 dwt vessels for barley to Iran made $20 pmt from Astrakhan, $16 from Aktau and $17 pmt from Makhachkala.

    Please note 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.

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