On week 12, freight rates in the Azov-Black Sea region stopped their rapid decline observed over the past few weeks. Thus, contracts for shipping 3K parcels of wheat from the Sea of Azov to Marmara are concluded at of $18-19 pmt, Sea Lines shipbrokers report.
At the same time, there is still a trend towards a slower reduction in rates for long-distance destinations, such as Mersin, Israel or Italy. All the same, very few vessels in spot position are opened in the region, which keeps the rates from falling, despite the small number of cargoes in the market.
According to Sea Lines, charterers expect a sharp decline in trade with Turkey in the near future due to the sharp fall in the lira exchange rate. At the same time, the navigation in the southern part of the Volga and the Don is starting as of April 1, so many owners are actively looking for cargo from Turkey and the Black Sea to the Caspian.
On week 12, freight rates for 3,000-5,000 dwt bulkers from the port of Azov moved sideways.
According to Sea Lines, freight rates from Azov made $17 to the Black Sea, $19 to Marmara, $33 to Mersin and $36 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 declined.
On week 12, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $20 from Aktau, $22 from Makhachkala, and $24 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.