On week 49, a slight decline in freight rates in the Azov and Black Sea region is reported. Contracts for 3K parcels of wheat from Azov to Marmara Sea ports are concluded on the average at a level of $59 pmt, according to Sea Lines shipbrokers. Due to the continued unfavorable economic situation in Turkey, the number of cargoes in the market is decreasing daily. Most of cargoes are shipped under the contracts concluded previously, as very few new contracts are concluded.
The drop in rates is also due to the end of the storm in the Black Sea and the Kerch Strait and the return of a large number of vessels to the Sea of Azov.
Ship owners consider forward voyages at current rates, anticipating a possible drop in freight rates by the end of the year. In addition, they are willing to send their vessels on long voyages to avoid waiting for loading in Russian ports during the New Year holidays.
According to Sea Lines, on week 49, freight rates for wheat parcels from Azov make $57 to the Black Sea, $59 to Marmara, $81 to Mersin and $85 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, the cost of shipments from the southern ports of the Russian Federation to Iran continues to grow. The rate from Astrakhan to Northern Iran is now $46 pmt. The amount of open tonnage has decreased. Many ship owners are working new contracts.
On week 49, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $31 from Aktau, $36 from Makhachkala, and $46 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.