On the 47th week the Azov-Black Sea region experienced a sharp drop in freight rates. Thus, the price for shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports has dropped by $3, compared to last week, to USD 24 PMT.
On the 46th week freight rates in Black-Azov sea region slightly decreased, comparing with the last week, therethrough, summing up the tendency in the drop of freight rates, which has been happening from the end of October. For example. Freight rate for 3000 MT of wheat from Azov sea to Marmara will be around 27 USD PMT.
On the 45th week freight rates in Azov-Black sea region are keep increasing, but not as drastically as it was last week. For example, the freight rate for 3000 MT of wheat from Azov to Marmara owners are asking around 28 USD PMT. However, a lot of players on the market think, that there won’t be any leaps in freight prices in the future, as it was last week. Moreover, there are going to be a lot of cargoes, but traders are not forecasting more new sales contracts.
On the 44th week in the Azov sea region the level of freight rates has increased significantly. Cancellation of import duty of some grains from the Turkey side has permitted owners to raise their rates for shipments and freight for transportation 3k wheat from Azov to Marmara sea ports has reached the level of USD 27 per metric ton.
On the 43th week in the Azov sea region freight rates have significantly increased compared to the last few weeks levels. So, the rate for the transportation of one metric ton of wheat from Azov to the Marmara sea ports is already equal to USD 23 and the expectations of shipowners are only growing.
On the 42th week the freight rates are still holding at the level of USD 19-20 for the 3k wheat shipment from Azov to Marmara sea ports. However, it is worth noting that on the market is seen an increase in the amount of cargoes, what is likely to lead to an increase in freight rates by next week.
On the 41st week in the Azov sea region the decline in freight rates continues. The rather high activity of the market, which was observed in August-September, it’s tailing off. On this week charterers are already offering USD 18-19 for the 3k wheat shipment from Azov to Marmara sea ports.
On the 40th week in Azov- Black sea region freight rates are decreasing. For example, the freight rate for 3000 mt of wheat from Azov sea port to Marmara went down to 20 USD per metric ton. This decrease is explained by reduction of the cargo quantity on the market, which was led by Turkish and European buyers, who are unprepared to offer profitable prices for traders and export companies.
On the 39th week in the Azov region the freight rates remain on the previous week level. So, the shipment of 3000 mts of wheat from Azov to Marmara sea port will cost abt USD 22. The cessation of growth in freight rates and a decrease in the number of shipments can be explained by the low activity of Turkish buyers in the last two weeks.
On the 38th week we can note a slight decrease in trade and freight rates in Azov Sea region. For instance, freight rate for 3000 MT of wheat from Azov to Marmara is around USD 22 pmt. Moreover, most of the owners prefer to take short voyages in order to not sail far away from Azov sea ports and have an opportunity to perform more shipments.