On week 6, freight rates in the Azov-Black Sea region began to gradually decrease, reaching the level of $33 per ton for 3k wheat parcels from the Sea of Azov to Marmara. According to Sea Lines ship brokers, there are a lot of vessels in spot positions in the market as trying to ship wheat before the export due coming into force poses too many risks for charterers.
Last Friday, the Government published a list of companies that received a quota for exporting wheat, corn and barley. Now, charterers can plan their shipments for the coming months. Many shippers consider working with new crops that do not fall under the quota restrictions.
From ship owners´ side, there is an intention to maintain a smooth decline of freight rates, which is due, among other things, to the fact that the current market prices allow of selling wheat with a profit even taking into account the export due, and to a large number of shipments of corn, which charterers can send until March 15 only.
On week 6, freight rates for 3,000-5,000 dwt bulkers from the port of Azov dropped significantly.
According to Sea Lines, freight rates from Azov made $31 to the Black Sea, $33 to Marmara, $44 to Mersin and $47 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 remained unchanged.
On week 6, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $20 from Aktau, $21 from Makhachkala, and $23 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.