On week 37, an increase in freight rates in the Azov-Black Sea region was recorded. According to Sea Lines shipbrokers, the rate for a 3K parcel of wheat from Azov to Marmara has risen again to the level of $46 pmt. Such an increase in rates was unexpected for many market players, since wheat export dues continue to rise significantly.
Thus, the export due for wheat w.e.f. September 15 will increase from $46.5 to $52.5 per ton, that on barley will increase from $26.1 to $33.1 per ton, while the due for corn will decrease from $51.1t o $49.
According to Sea Lines, the increase in freight rates can be explained by several factors. First of all, in the context of the sharply growing export due for wheat, shippers are actively looking for spot vessel positions, which cannot but warm up the market. In addition, the export dues for barley was reduced last week, as a result of which some charterers began to actively consider contracts on this product.
Over the past week, other commodities began to appear on the market, such as millet, peas and bran, which had been withheld by cargo owners for several months. Also, requests for long-distance destinations have become more frequent, primarily for Mersin and Iskenderun, as a result of which the long-distance freight market has also recorded growth. There is still no intensification in trade from river ports, which is due to the reluctance of cargo owners to sell goods for the current prices.
On week 37, freight rates for 3,000-5,000 dwt bulkers from the port of Azov grew.
According to Sea Lines, freight rates for wheat parcels from Azov made $44 to the Black Sea, $46 to Marmara, $64 to Mersin and $68 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 went up.
On week 37, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $27 from Aktau, $34 from Makhachkala, and $36 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.