On week 3 of the year 2022, freight rates continue increasing in the Azov Sea region for all destinations. Thus, contracts for 3K wheat parcels from Azov to Marmara Sea ports are concluded at the level of $40 pmt.
The growth trend is to be explained by the shortage of spot tonnage caused by the adverse weather conditions in the Black Sea, Sea Lines shipbrokers say. In addition, due to the approaching introduction of export quotas for wheat and corn, charterers are trying to conclude and execute as many contracts as possible before mid-February.
At the same time, shipments of less popular crops, such as bran, safflower, beet pulp or peas, are being carried out quite actively. Turkish warehouses are still overflowed by cargoes, so charterers are more focused on buyers in Greece, Italy and Egypt.
According to Sea Lines, on week 3, freight rates for wheat parcels from Azov make $38 to the Black Sea, $40 to Marmara, $60 to Mersin and $65 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 region, the situation remains stable, freight rates are at the last week level. The water level in Astrakhan is still low, which prevents shipowners from taking cargo up to fcc. Grain shipments are becoming significantly fewer in the market, which may lead to a drop in freight rates in the coming weeks.
On week 2, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $23 from Aktau, $37 from Makhachkala, and $47 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.