On the 3rd week freight rates in the Azov-Black Sea region continue to grow rapidly. Thus, for the shipment of 3,000 tons of wheat from the ports of Azov Sea to the ports of the Marmara Sea shipowners ask for $ 35 per ton. At the same time, every day there is more cargo and fewer spot vessels on the market, which will almost inevitably lead to a further increase in freight. Evidently, such an impact on the market is caused by the approaching deadlines for the introduction of the export fee on wheat.
On the 53th week in the Azov sea region the freight rate for 3k wheat shipment from Azov to Marmara sea ports has established on the USD 25 level.
Against the backdrop of a significant gap between producer prices and buyers’ offers, as well as Christmas holiday is coming up, the number of new contracts has decreased significantly. Thus, freight rates are expected to decrease in the beginning of 2021.
On the 52nd week freight rates in the Azov sea region continue their growth, reaching a level of USD 25 for 3000 mts wheat shipment from Azov to Marmara sea ports.
On the 51th week in the Azov sea region the freight rate for the 3000 mts shipment of wheat from Azov to Marmara sea ports is equal to USD 24 per metric ton. This week, the weather started to improve and the water level at ADMC, water level has risen, what has allowed to start movement of vessels to the Azov and Rostov ports. Although a lot of vessels are still waiting for the passage to the above-mentioned ports.
On the 50th week in the Azov sea region the freight rates remain on the previous week level and the shipment of 3000 mts of wheat cargo from Azov to Marmara sea ports will cost around USD 23 PMT.
On the 49th week in the Azov sea region the freight rates began to fall and reached the level of USD 23 PMT for shipment of wheat cargo from Azov to Marmara sea ports.
On the 48 week freight rates in Azov-Black sea region have gained a few points. For example, freight rate for 3000 MT of wheat from Azov to Marmara will be around 25 USD per metric ton. Moreover, the market is getting more and more stable as new cargoes are appearing on the market day by day. Charterers starts to actively ship corn and rice, and we can also trace a bunch of new wheat contracts for Turkish buyers.
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.