Market news

On the 2nd week there is an increase in freight rates in the Azov-Black Sea region. If last week the rates were stable at the level of $ 30 for a shipment seofnding 3,000 tons of wheat from Azov to Marmara Sea ports, this week freight prices have risen on the average by several dollars, reaching a level of $ 33 per ton. The price increase is primarily due to the publication of data on the amount of grain that will be allowed to export from Russia from February to June.

On the 52nd week there is still the trend for a sharp reduction in freight rates in the Azov sea region. During the week, the rates on average dropped by another $ 16, decreasing to the level of USD 30 pmt for a shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports. There is a very large number of spot vessels on the market. At the same time, the economic situation in Turkey remains quite difficult, despite some stabilization of the national currency in the last week.

On the 51st week, the sharp decrease of the freight market continues in the Azov-Black Sea region. During the week, rates fell by another $ 7, reaching a level of $ 45 per ton for a shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports. Despite the recovery of the Turkish lira this week, the demand for grain goods on the Turkish market remains very low, as a result of which it is very difficult for charterers to conclude pre-sale contracts. In addition, the expectation of a further increase of export taxes also negatively affects the situation.

On the 50th week, freight rates in the Azov-Black Sea region note a rather sharp drop. Thus, the cost of shipment 3,000 tons of wheat from Azov to the Marmara Sea ports fell to the level of USD 53 pmt.Mainly this situation is caused by the incessant fall of the Turkish national currency during the […]

On the 49th week there is a slight drop in freight rates in the Azov-Black Sea region. Thus, contracts for the shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports are concluded on average at the level of 59 dollars per ton. Due to the continuation of the unfavorable economic situation in Turkey, the number of cargoes on the market is decreasing daily. Most cargoes are shipped according to previously made contracts, while new ones are practically not concluded.

On the 48th week, rates in the Azov-Black Sea region remain at the level established at the end of last week. Thus, contracts for the shipment of 3,000 tons of wheat from Azov to Marmara ports are concluded on average at the level of $ 62 per ton. It is worth noting that many charterers were expecting a reduction in rates due to the depreciation of the lira and the suspension of active trade with Turkish partners.

On the 47th week, a rapid growth of freight rates continues in the Azov-Black Sea region. Thus, contracts for the shipment of 3,000 mts of wheat from Azov to Marmara Sea ports are concluded on average at the level of USD 59 pmt. At the same time, at the beginning of this week, most shipowners asked mid 60s for their vessels. It is worth noting that both charterers and shipowners feel that an endless increase in rates is impossible and are preparing for some decrease.

On the 46th week there is a strong increase in freight rates in the Azov-Black Sea region. Thus, contracts for the shipment of 3,000 tons of wheat from Azov to Marmara Sea ports are concluded at the level of USD 51 pmt.
Despite the strong increase in export taxes, the number of cargoes on the market exceeds the number of open vessels, as a result of which rates record a rapid increase.

On the 45th week there is an increase in rates in the Azov-Black Sea region. Contracts for shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports are concluded at the level of USD 48 pmt.
The rate increase is due to the shortage of spot tonnage in the region. Most charterers are trying to find a vessel before the beginning of the next week in order to have time to ship the goods before the new export fee comes into force, which is expected to be significantly higher than the previous one.

On the 44th week, freight rates in the Azov-Black Sea region continue to rise. Thus, for a shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports shipowners ask for USD 46 per ton. This week, everyone notes the weak activity of Turkish partners associated with the unstable economic situation in the country and the drop of the Turkish lira. First of all, is bran cargoes which are being sold to the Marmara Sea, while crops such as corn and wheat are planned to be shipped to far destinations.