On week 32, freight rates in the Sea of Azov region remain on the previous week’s level. Thus, the rate for a 3K parcel of wheat from Azov to Marmara Sea ports remains at the level of $61-62 pmt, Sea Lines shipbrokers report. But, given the lifting of the blockade of Ukrainian ports, Russian traders have issues selling wheat. Significant difference in the buying price in favor of Ukrainian wheat attracts Turkish buyers. In view of the high inflation rate in Turkey, they prefer to opt for low prices, despite possible difficulties in finding a vessel.
Since August 10, the EU countries completely stopped buying Russian coal, but its active shipments to Turkey continue, which maintains a high rate of freight on the market.
According to Sea Lines, on week 30, freight rates for shipping wheat by 3,000 dwt bulkers from Azov make $60 pmt to the Black Sea, $62 pmt to Marmara, $87 pmt to Mersin and $92 pmt 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. The rate for a 3K parcel of corn from Astrakhan to the Northern ports of Iran has already reached $62 pmt.
The quantity of cargo significantly exceeds tonnage offers, which contributes to the daily increase in freight rates. As a result, rates are also rising strongly from river ports. The cost of freight from Balakovo to Anzali already reaches $90 pmt.
On week 32, freight rates for shipping corn by 3,000 dwt bulkers to Iran make $42 pmt from Aktau, $54 pmt from Makhachkala, and $62 pmt 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.