On week 13, freight rates in the Azov-Black Sea region continue to fall. According to Sea Lines shipbrokers, contracts for 3K wheat parcels from the Sea of Azov to Marmara are concluded at the level of $18 per ton.
Due to the sharp fall of the Turkish lira, the conclusion of new contracts with Turkish buyers has been almost completely suspended, as a result, a very small number of cargo remains on the market.
In addition, this week, some Turkish consignees, due to the current difficult economic situation in the country, failed to meet their contract obligations and pay for cargo, which led to vessels detention in Turkish ports, Sea Lines report.
In general, the demand for Russian wheat in the global grain market is declining, and so are the prices for it. In addition, the domestic market is still unstable and traders have so far been unable to agree on the purchase rate of cargo from the fields.
This week, navigation in the southern parts of the Russian river begins, which will mean activation of shipments from Marmara ports to the Caspian, as well as fertilizers flow from the Caspian basin countries to the Black and Marmara Seas.
On week 13, freight rates for 3,000-5,000 dwt bulkers from the port of Azov declined.
According to Sea Lines, freight rates from Azov made $16 to the Black Sea, $18 to Marmara, $30 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 moved downwards.
On week 13, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $17 from Aktau, $20 from Makhachkala, and $22 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.