The Sea of Azov market hass significantly downgraded. After such a substantial correction Rostov – Marmara shipments are quoted at the $26-27 pmt level.
Turkish buyers are still not so active and recent market activity is mainly supported by other destinations like Greece, Italy and East Med.
Freight rates to the Sea of Marmara from Rostov make $26-27 per ton and from Yeisk $25-26 per ton.
Freight rates to SE Black Sea ports make $24-25 per ton from Rostov and $23-24 from Yeisk.
In the Caspian, the market is under significant demand for budgeting quotations. According to Rufco shipbrokers, traders are active and trying to make contracts ex North Caspian and Volga and Don river ports.
Rufco foresee that main obstacle to normal trade here might be problems with collecting freight on Iran destinations. Recent issues with Latvian banks would limit number of vessels trading to Iran and may cause substantial tonnage shortage and a rise in freight.
Current freight rates from Astrakhan to Iran make $35-37 per ton.
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 proceedings.