On week 24, freight rates have risen again by several dollars in the Azov and Black Sea region. The rate for a 3K parcel of wheat from Azov to Marmara Sea ports makes $49 per ton, Sea Lines shipbrokers report.
However, there is a lull in the grain market at the moment. The vast majority of charterers have already spent the quotas allocated to them for the export of wheat, corn and barley. And the strong ruble exchange rate coupled with the weakened Turkish lira do not allow traders to conclude contracts with Turkish partners.
The rates are rising primarily due to active shipments of coal, the export of which to European countries will be limited in less than two months, Sea Lines explain.
In addition, there are few spot vessels in the market, so most shipowners are already considering cargoes for week 26, when grain shipments could resume.
According to Sea Lines, on week 24, freight rates for shipping wheat by 3,000 dwt bulkers from Azov make $47 to the Black Sea, $49 to Marmara, $65 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, freight rates lost a dollar.
On week 24, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $19 from Aktau, $26 from Makhachkala, and $31 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.