Rates have continued to grow during this week, but the main question for today is whether Rosselkhoznadzor (RF Federal Service for Veterinary and Phytosanitary Surveillance) could really effect their plans to restrict grain export from South Russian ports.
As per their statement, more than 30 loading yards in Rostov and Krasnodar regions are not compliant with the phytosanitary regulations and therefore should stop grain handling in case of negative inspection results.
This worst case scenario would severely hamper export volume and the freight market in the region, according to Rufco shipbrokers.
Freight rates to the Sea of Marmara from Rostov make $33-34 per ton.
Freight rates from Rostov to SE Black Sea ports are $31-32 per ton.
More activity/cargoes have been added to the Caspian region this week, but it has had no affect on the freight rates so far.
The number of vessels trading in the region is constantly decreasing due to the sanctions issue and this could potentially lead to a rise in the freight rates in the region.
The current freight rates from Astrakhan to Iran remain at $25-29 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.