In Week 42, the situation in the Azov-Black Sea region remains unchanged. Meanwhile, the Caspian freight market is showing signs of a reversal. Following several weeks of strong rate increases, demand from Iranian buyers has started to decline. Freight rates for shipments of 3,000 tons of wheat from Astrakhan to Northern Iranian Ports are currently at USD 125–126 per ton. However, most charterers expect rates to decline further in the coming weeks and are therefore in no hurry to conclude contracts.
Growing demand for shipments from Baltic Sea ports, combined with rising bunker prices, continues to push freight rates higher in the Baltic Sea, North Sea and on routes connecting the two regions. Weekly freight rate increases for 3,000–3,500 DWT vessels on long legs as from Baltic ports to UK/ Ireland range are within 2-3 euro per mt.