On week 45, there is an increase in rates in the Azov and Black Sea region. Contracts for shipment of 3,000 tons of wheat from Azov to Marmara ports are concluded at the level of $48 pmt.
According to Sea Lines shipbrokers, the rate increase is due to the shortage of spot tonnage in the region. Most charterers are trying to find a vessel before the beginning of the next week in order to have time to ship goods before the new export fee comes into force, which is expected to be significantly higher than the previous one. The anticipated increase should especially affect corn, which is currently being exported most actively.
The shortage of spot fleet is aggravated by unfavorable weather conditions in the Black Sea, as a result of which some shipowners were forced to postpone the prospects of their open positions this week. In addition, active sales to Turkey resumed this week, with long-distance destinations such as Mersin and Italy still popular.
On week 45, freight rates for 3,000-5,000 dwt bulkers from the port of Azov moved up.
According to Sea Lines, freight rates for wheat parcels from Azov made $46 to the Black Sea, $48 to Marmara, $68 to Mersin and $73 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, an increase in open vessels positions with Iranian flag is to be observed this week. However, the high demand for tonnage allows owners to maintain a high level of freight rates.
In addition, Iranian charterers began to offer back cargoes more actively, but there are practically no shipowners willing to spend time loading back cargo, since it turns out to be much more profitable to proceed in ballast for loading to Astrakhan, Sea Lines note.
In the Caspian region, freight rates moved sideways.
On week 43, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $27 from Aktau, $32 from Makhachkala, and $42 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.