On week 48, rates in the Azov and Black Sea region remain on the last week’s level. Thus, contracts for shipment of 3,000 tons of wheat from Azov to Marmara ports are concluded on the average at $62 pmt.
According to Sea Lines shipbrokers, many charterers were expecting a reduction in rates due to the depreciation of the lira and the suspension of active trade with Turkish partners. However, extremely unfavourable weather conditions in the Black Sea and unfavourable forecasts have led to huge queues in the Kerch Strait and a shortage of free tonnage, which makes it possible for owners to maintain a high level of rates in the market.
In these conditions, rates for long-distance destinations also remain high. Charterers are actively considering fleet for the end of December and for January dates for Italy and Egypt.
On week 48, 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 $60 to the Black Sea, $62 to Marmara, $83 to Mersin and $88 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, freight rates continue to grow due to the closure of river navigation and a shortage of free tonnage in the market. The rate for a 3K corn parcel from Astrakhan to North Iran has increased to make $45 pmt.
On week 48, freight rates for shipping corn by 3,000 dwt bulkers to Iran made $31 from Aktau, $36 from Makhachkala, and $45 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.