On week 7, freight rates continue to decrease in the Azov-Black Sea region. Thus, the rate for a 3K wheat parcel from Azov to Marmara Sea ports is $33 per ton, Sea Lines shipbrokers report.
Many traders expected February 15, the date when export quotas were introduced on, in a hope that the market situation would change for the better and there would be more active trade for other grain crops.
However, at the moment there is no significant improvement in the situation, the number of new contracts still remains at a low level. Charterers who have received a quota for the export of wheat and corn begin to plan shipments, but without much haste, so as not to warm up the freight market.
Regarding the main destinations of shipments, according to Sea Lines, the most frequent requests are to Greece, and demand has also started to recover in the Turkish market.
According to Sea Lines, on week 7, freight rates for wheat parcels from Azov make $31 to the Black Sea, $33 to Marmara, $51 to Mersin and $54 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 went down to some destinations.
On week 7, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $28 from Aktau, $32 from Makhachkala, and $40 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.