On week 4, freight rates in the Azov-Black Sea region were keeping on a high level amounting to $40 per ton for a shipment of 3,000 tons of wheat from the Sea of Azov to the Marmara Sea. The retention of high prices is due to the extremely small number of spot vessels in the market and the desire of charterers to ship as much fee-free wheat as possible before February 15, Sea Lines shipbrokers explain.
Among other things, the situation is complicated by the difficult navigation conditions in the Kerch Strait, where vessels have to wait in long queues to enter the ports of the Sea of Azov for loading. Given the current situation, charterers are in no hurry to fix vessels for the second part of February, as they expect a significant decline in freight rates. At the same time, many ship owners are still confident that the decline will start no earlier than in early March.
On week 4, freight rates for 3,000-5,000 dwt bulkers from the port of Azov increased significantly.
According to Sea Lines, freight rates from Azov made $38 to the Black Sea, $40 to Marmara, $51 to Mersin and $56 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, freight rates also grew.
On week 4, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $19 from Aktau, $21 from Makhachkala, and $231 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.