There are no significant changes in trade or freight rates in the Sea of Azov market.
Meanwhile recent rise in agri commodities prices are expected to eventually support freight market, especially on Turkish destinations, according to Rufco shipbrokers.
Russian rouble is showing downward dynamic towards USD, which also might ignite sales. According to Rufco, it could happen just before or immediately after the end-August holidays.
Freight rates to the Sea of Marmara from Rostov make $26-27 per ton.
Freight rates from Rostov to SE Black Sea ports are $24-25 per ton.
The USA has imposed sanctions in respect of steel shipments to Iran as from 7th of August. Thus, the small quantity of steel cargoes which previously provided support to shipping rates in the Caspian has gone by now.
Earlier in August one of the largest Russian steel producers / traders to Iran, MMK announced that they had stopped any sales to the IRI.
The current freight rates from Astrakhan to Iran remain at $25-27 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.