On the 23rd week, freight rates continued to fall in the Azov-Black Sea region, dropping to the level of USD 28 pmt for a shipment of 3000 tons of wheat from Azov to Marmara Sea ports. There is the usual June lull in the market as buyers wait for the new grain season to start buying. Also, there is still no great demand for small tonnage shipments of coal and fertilizers for export. A little more activity is noted on the Russian river, however, most shipments are effectuated by cabotage fleet.
The fee rate for wheat exports from Russia will drop to 2,778.1 rubles per ton from June 5th, while taxes on barley and corn will remain zero.