On week 9, freight rates in the Azov-Black Sea region continued to decline. Contracts for 3,000 ton parcels of wheat from the Sea of Azov to Marmara Sea ports are already concluded at the level of $26 pmt and below, Sea Lines shipbrokers report. At the same time, the drop in rates for long-distance destinations like Italy, Israel or Mersin, which are quite in demand of lately, is not so great.
According to Sea Lines, his is primarily due to the small number of spot fleet ready to go to those destinations. In addition, the market is heated by wheat from Kazakhstan, which is not subject to export dues and is now beginning to appear more often in the market. Also, due to the approaching start of river navigation, ship owners with a Russian-flagged fleet prefer to take short voyages to Turkey in order to be able to take cargo to the ports of the Caspian region.
On week 9, freight rates for 3,000-5,000 dwt bulkers from the port of Azov continued declining.
According to Sea Lines, freight rates from Azov made $24 to the Black Sea, $26 to Marmara, $38 to Mersin and $41 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 surged.
On week 9, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $28 from Aktau, $36 from Makhachkala, and $38 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.