On the 30th week in the Azov sea region there is a decrease in freight rates. The freight market has been actively rising not for a long time and now, the price for 3000 mts wheat shipment from Azov to Marmara sea ports had dropped to USD 17-18 PMT. There is not a lot of cargoes on the market as great part of charterers are still waiting for new harvest. More active trading is seen from river ports, what permit owners to keep higher freight rates (the shipment from Volgodonsk port to Marmara is now on the level of USD 25 PMT). Most market participants predict that the situation will improve by August, when more intensive sales and distribution of new crops will begin.
On the Caspian market there is no positive tendency in freight rates, traders are still waiting for new harvest. Active trading is predicted to begin around 32nd week. The freight rate for shipment of 3000 mts of corn from Astrakhan to North Iranian ports is on the same level of USD 18-19 PMT.
Also, in a last week tender, Iran purchased about 550,000 tons of corn and soybean meal, but their origins are believed to be South American countries.
On the deep sea market there is an increase in fertilisers shipments by Panamax vessels. The main area of this trading are Persian Gulf and Baltic regions.
Unfortunately, this is not the case for coal shipments. The coal market is now falling markedly, but many experts predict a slight increase for August.
It is also predicted that the new grain harvest trade should be more active next week.
More and more companies are inclined to charter on the September/October dates.