On the 3rd week, freight rates in the Azov-Black Sea region recorded an increase, rising by 5 usd pmt and reaching USD 74 per ton for a shipment of 3000 tons of wheat from Azov to Marmara Sea ports. This increase is due to the shortage of fleet on the market, both on spot and on for the beginning of February. Among the main reasons for this situation are deteriorating weather conditions, closure on Bosphorus due to fogs and grounded vessel on Monday, as well as renewed activity on the grain market.
In addition, Charterers’ interest in long haul destinations such as Mersin, Israel, Egypt and Italy has increased strongly this week, resulting in even stronger rise of rates there than on Marmara. At the same time, most shipowners prefer short voyages to Izmir.
It should be noted that this week the export fee on wheat and corn has slightly dropped to 4719.4 roubles per ton and 1174.6 roubles per ton respectively, while the tax on barley export has risen to 3977.6 roubles per ton.