On week 10, freight rates in the Azov-Black Sea region dropped to the level of $25 for a 3K parcel of wheat from the Sea of Azov to Marmara, Sea Lines shipbrokers report. The amount of cargo in the market is declining, but it does not results in a sharp drop in freight rates due to the continuing demand for spot vessels and the congestion in the Kerch Strait, which takes some owners up to a week to pass.
According to Sea Lines, starting next week, the market is expected to see a trend towards a sharper decline in freight, since at the moment many charterers cannot successfully conclude contracts for the second half of March.
At the same time, more and more customers are beginning to consider shipments from Russian river ports and plan to enter into long-term contracts with owners starting from the first days of navigation.
On week 10, freight rates for 3,000-5,000 dwt bulkers from the port of Azov continued declining.
According to Sea Lines, freight rates from Azov made $23 to the Black Sea, $25 to Marmara, $35 to Mersin and $41 to Egypt.
Freight rates from Rostov AB (after bridge) are $1 above, from Rostov BB (before bridge) the same, from Yeisk and Taganrog $1 below, and from Temryuk $3 below those from the port of Azov.
In the Caspian, freight rates also went down.
On week 10, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $23 from Aktau, $32 from Makhachkala, and $34 from Astrakhan.
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.