In week 12, freight rates in the Azov–Black Sea region continued to rise. Contracts for the shipment of 3,000 tons of wheat from Azov to Marmara Sea ports are being concluded at levels of USD 56–57 per ton. It is worth noting that the increase in rates is primarily driven by higher fuel costs for shipowners. Demand for grain in Turkey and Mediterranean countries remains moderate.
As for the export duty on wheat, from March 18 its rate will exceed zero for the first time in 9 weeks and will amount to RUB 140.9 per ton. Export duties on corn and barley will remain at zero.
In the Baltic region, a slight increase in freight rates is observed this week, driven by volatility in the marine fuel market, as well as the emergence of new cargo offers from charterers.