On week 39 week, the level of freight rates continues to decrease in the Azov and Black Sea region. Thus, the rate for a shipment of 3,000 mt of wheat from Azov to Marmara is at the level of $40 per ton.
According to Sea Lines shipbrokers, Turkish buyers practically suspended concluding purchase contracts for wheat this week due, among other things, to the expected abolition of import fees on a number of grain products in Turkey, which is to come into force at the beginning of October.
Shipments to far destinations are also not in a great demand. Among the main goods exported this week are corn, bran and peas.
In such conditions, a large number of spot vessels appear in the Azov and Black Sea region, which accelerates the fall in freight rates. Still, it is difficult to say for sure that such a rapid decline will continue, since the weather conditions in the ports of Azov and Rostov are expected to become more complicated next week, with a decrease of the water level, which may lead to loading delays.
In addition, from October 1, trade with Turkish partners is expected to intensify after the abolition of import fees in that country.
On week 39, freight rates for 3,000-5,000 dwt bulkers from the port of Azov went down.
According to Sea Lines, freight rates for wheat parcels from Azov made $38 to the Black Sea, $40 to Marmara, $59 to Mersin and $60 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 region, vessels are opening more actively, but freight rates remain at the last week’s level. As an example, a 3K grain parcel from Astrakhan to Northern Iran is shipped for $37 per ton.
On the whole, freight rates moved sideways.
On week 39, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $25 from Aktau, $27 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.