07/09/2022

On the 36th week, freight rates in the Azov-Black Sea region are several dollars lower than last week´s level. Thus, contracts for the shipment of 3,000 tons of wheat from Azov to Marmara Sea ports are concluded at the level of $ 45 per ton. However, it is worth noting that at the end of last week the trade was very inactive, so there was a rather sharp drop in rates to the low 40s. By the middle of this week, the market had regained momentum and rates began to rise. There is a possibility that the upward trend in freight will continue in the near future. Many shipowners prefer not to fix their fleet for the second half of September in anticipation of more advantageous offers. It is worth saying that Russian wheat is becoming more competitive. In addition to lower prices for this product, there is a significant reduction in export fees. This week, the tax decreased from 4053.8 rubles to 3368.9 rubles per ton.