New week, new taxes. Following an increase in export duty of up to 30% on sunflowers and rapeseed, Russia plans to impose a tax on soya export. It will make 30%, but no less than €165 pmt. Currently, soybean exports are not taxed. The new due will be in force 1 February till 30 June 2021, according to Sea Lines ship brokers.
In the Baltic region, the number of tonnage offers has increased this week as many annual contracts are already completed. Yet, most vessels are in the ARAG range, and many ship owners prefer to work in this region rather than go in ballast for cargoes from Baltic Sea ports. It is expected that over the next two weeks there will be a lot of fleet offers on the Continent and in the United Kingdom, which may have a positive impact on freight rates.
The Baltic dry index continued its growth this week.
On week 52, freight rates for 30,000-35,000 dwt bulkers from Ust-Luga moved sideways.
Thus, rates on the Ust-Luga – Continent – Ust-Luga were $18 pmt, rates from Ust-Luga to ARAG made $19.25 pmt.
Rates from Ust-Luga were $31 pmt to West Med rates, and $33 pmt to East Med.
Rates for 30,000-35,000 dwt bulkers from Ust-Luga to the Black Sea amounted to $37 pmt, rates to the Persian Gulf were $41.5 pmt.
On week 51, freight rates for smaller bulkers from Ust-Luga also moved sideways.
Thus, rates from Ust-Luga to Klaipeda were €19.75 pmt, and those to Riga and Stockholm were €18 pmt.
Freight rates from Ust-Luga to Hamburg made €29 pmt, and to Bremerhaven €30 pmt.
Rates from Ust-Luga to ARAG were €33 pmt, and those to Dublin €41 pmt.
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.