On week 11, a sharp increase in the level of freight is recorded in the Azov and Black Sea region. While last week deals were concluded in low 30ies, this week the rate for a 3,000K parcel of wheat from Azov to Marmara Sea ports reached $53 per ton, Sea Lines shipbrokers report. Despite the unstable situation in the region, trade is getting more active every day.
The most popular destination for shipments at the moment is Turkey, but shipments to Egypt, Israel and Italy are also quite often considered by charterers. It is worth noting that taking into account the incidents with merchant vessels in the area of Taganrog and Yeisk, some shipowners are afraid to call these ports, as well as Rostov and Azov, preferring to take cargo from Kavkaz, Novorossiysk or Temryuk.
This increases the gap in rates between the northern and southern ports of the Sea of Azov. Sea Lines say, there is every reason to assume that the freight market will continue to grow in the near future, since the demand for grain products remains very high, and ship owners will need to cover the costs they have incurred over the past few weeks when ships were idle.
According to Sea Lines, on week 11, freight rates for wheat parcels from Azov made $51 to the Black Sea, $53 to Marmara, $66 to Mersin and $68 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 demonstrated a downward trend.
On week 11, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $21 from Aktau, $26 from Makhachkala, and $32 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.