On week 11, freight rates in the Azov-Black Sea region fell sharply. Thus, contracts for 3K parcels of wheat from the Sea of Azov to the Marmara Sea are on average concluded at the level of $20 per ton, Sea Lines shipbrokers report.
Most shippers note the desire of suppliers to hold back cargo in anticipation of price stabilization in the domestic market, and point to low prices offered by buyers.
Many charterers are planning to ship to long-distance destinations, such as Greece, Italy, Israel, and Turkish Mediterranean ports. At the same time, the number of shipments of fertilizers and coal, which were postponed in the recent months due to the high grain export activity, is gradually increasing.
In addition, shippers begin to calculate more actively various projects from Russian river ports. In addition to cabotage deliveries, charterers plan export shipments of grain and fertilizers as due to the favorable weather conditions the icebreaking season escorts in the ports of Azov, Rostov and Taganrog is over as of March 18.
On week 11, 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 $18 to the Black Sea, $20 to Marmara, $32 to Mersin and $36 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 declined.
On week 11, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $22 from Aktau, $27 from Makhachkala, and $29 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.