On week 33, freight rates in the Azov-Black Sea region are growing rapidly. According to Sea Lines shipbrokers, deals for shipping 3K wheat parcels from Azov to Marmara are concluded at a level of $43 pmt.
In the context of the reduced export fees for wheat and barley, many charterers are actively concluding sale contracts with Turkish partners. The end of the harvest in southern Russian regions also contributes to the activation of shipments. The main direction of sales traditionally remains Turkey, but such directions as Israel, Italy, Greece and Egypt are also considered, although in a much smaller volume.
At the same time, bad weather conditions in the Black Sea have caused a large accumulation of vessels in the Kerch Strait, as a result of which many ship owners cannot give accurate prospects for their open positions. In addition, due to the constantly increasing freight rates, many owners prefer not to rush to conclude contracts, but to fix vessels in the spot market.
Regarding shipments from the Russian river, this week charterers still report difficulties purchasing cargo from the Middle Volga, as a result of which there are practically no sale contracts for shipments from that region.
On week 33, 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 $41 to the Black Sea, $43 to Marmara, $58 to Mersin and $62 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 increased.
On week 33, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $28 from Aktau, $31 from Makhachkala, and $34 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.