27/03/2024

At the beginning of the 13th week, freight rates in Azov-Black Sea region  continued to grow. Thus, contracts for a shipment of 3000 tons of wheat from Azov to Marmara Sea ports were concluded at the level of $42 per ton. Trade of grain cargoes was active, but since the middle of the week the opposite tendency has been observed. As a result of sharp decrease of grain transshipment in Kavkaz, market players expect more conventional fleet to be released, which, according to many Charterers’ expectations, should lead to freight rates falling again. In addition, there is a suspension of trading to Turkey. At the same time, the export rate for wheat exports from Russia from March 27th will increase to 3,298.6 rubles, the tax on barley will rise to 573.3 rubles, while the rate on corn will become zero.