On week 29, a fairly rapid increase in freight rates in the Azov and Black Sea region is to be observed. The rate for a 3K parcel of wheat from Azov to Marmara makes $36 pmt this week, Sea Lines shipbrokers report. However, some owners offer up to $40 pmt.
Such an increase in rates can be explained by a large number of cargoes in the market, as well as by the reluctance of ship owners to fix their vessels in advance due to the constant changes in the market in their favor.
In addition, due to the official holidays in Turkey, some vessels are delayed discharging in Turkish ports, which greatly limits the number of offers. Plus, most ship owners prefer short voyages, refusing such destinations as Egypt, Greece or Italy, Sea Lines explain.
According to the RF Ministry of Agriculture, the export fee for wheat as of July 21 will decrease to $35.2 per ton compared to the current $39.3 per ton, which is valid until July 20. The export due for barley will increase from $36.9 to $37.5 per ton, whilst the due for corn will decrease from $52.2 to $51.6 per ton. Under these conditions, shippers can count on more profitable contracts, which will result in increasing number of shipments. Sea Lines expect.
On week 29, freight rates for 3,000-5,000 dwt bulkers from the port of Azov went up.
According to Sea Lines, freight rates for wheat parcels from Azov made $34 to the Black Sea, $36 to Marmara, $452 to Mersin and $55 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 29, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $20 from Aktau, $22 from Makhachkala, and $24 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.