05/10/2022

On the 40th week, freight rates in the Azov-Black Sea region again recorded a strong increase. Thus, contracts for a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports this week are concluded at the level of $ 72 per ton. There is still a shortage of spot fleet in the region. In addition, shipowners, seeing a steady increase in rates, are in no hurry to work positions for the middle and end of October. At the same time, it is worth noting that the number of cargoes is not decreasing, high demand for Russian grain continues to be observed in Turkey, Egypt and Israel. An important factor here is the progressive reduction of export fees, which has been going on for several weeks. Thus, according to the Ministry of Agriculture of Russia, from October 5 to October 11, the tax on wheat exports from Russia will amount to 2,119 rubles per ton, for the export of barley — 1,849.8 rubles, corn — 3,295.6 rubles per ton. Thus, the export fee will be reduced for all three nomenclatures of goods. In addition, charterers are still trying to calculate the export of grain products from the Volga ports, although the shortage of fleet in the river creates extremely unfavorable conditions for the trade.