In Week 35, the situation in the Azov-Black Sea region remains unchanged. Many charterers are still unable to find new markets for their cargo and have temporarily suspended their activities. In the Caspian region, on the other hand, freight rates on the Iran route continue to show steady growth.
As of August 26, the export duty on Russian wheat will increase to RUB 1,012.1 per tonne. The export duty on barley will remain at zero, while the duty on corn will increase from RUB 285 to RUB 607.3 per tonne.
Over the past week, freight rates in the Baltic region showed positive dynamics. Some charterers are already fixing freight for late September/early October in order to hedge their sales. A sufficient number of grain and oilseed cargoes in the range of 3,000–5,000 tonnes have appeared on the market from ports in the Baltics, Southern Baltic and the Gulf of Finland. The market remains relatively balanced: favorable weather conditions are limiting further rate increases, fleet turnaround remains at a high level.