On week 14, freight rates in the Azov and Black Sea region continue dropping. Thus, the rate for 3,000 tons of wheat from the Sea of Azov to the Marmara Sea is down to $17 pmt. Many shippers note that there is less and less cargo left in the fields and that prices for it are not falling, despite the sharp decline in demand for Russian wheat in the world market, Sea Lines shipbrokers report.
The economic situation in Turkey remains quite difficult, so for the time being charterers mostly focus on other destinations such as Israel, Lebanon, Greece or Italy. In addition, this week there are more and more shipments to Libya and Syria.
Many Russian-flagged ship owners prefer to take cargo to the Caspian in order to take in early May back cargo from Turkmenistan, Azerbaijan, as well as from the ports of the Russian river, from where many charterers plan to ship grain and fertilizers.
On week 14, freight rates for 3,000-5,000 dwt bulkers from the port of Azov moved downwards.
According to Sea Lines, freight rates from Azov made $15 to the Black Sea, $17 to Marmara, $29 to Mersin and $33 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 increased.
On week 14 freight rates for shipping corn by 3,000 dwt bulkers to Iran made $21 from Aktau, $23 from Makhachkala, and $25 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.