In the Azov market, freight rates here have lost couple of dollars since the latest report. The number of cargoes available for transportation is decreasing as well.
Wheat stocks in South Russia made just 4 mn tons as for March 1, 2019, 48.4% less than last year, and the overall remaining wheat quantity in Russia is only 16,5 mn tons. This is unlikely to support freight rates in the region till the new crop, according to Rufco shipbrokers.
The positive market factor for today is a sudden strengthening of the Turkish lira, which has reached today a 5.35 to USD ROE.
Freight rates to the Sea of Marmara from Rostov make $18-19 per ton.
Freight rates from Rostov to SE Black Sea ports are $16-17 per ton.
There is nothing new in the Caspian market, where everyone is waiting for the start of the navigation. Rufco expect that the rates there will not change significantly after April 1, most likely they will continue to decline slowly until July.
The current freight rates from Astrakhan to Iran make $31-33 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.