During Week 27, freight rates in the Azov-Black Sea region remain at USD 23 per ton for the shipment of 3,000 tons of wheat from Azov to the Marmara Sea ports. Activity in the grain market remains subdued despite the start of the new grain season. Most traders do not expect market activity to recover before the end of this month. In addition, the situation is being complicated by logistical difficulties within Russia affecting cargo deliveries to ports amid ongoing fuel supply issues. Export duty rates on wheat, barley and corn from Russia have remained at zero since 1 July.
In the Baltic market, freight rates continue to decline amid low trading activity. The number of new fixtures remains limited.