15/02/2023

During last two weeks, freight rates in the Azov-Black Sea region have remained at the level around $71 for the a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports. There are very few real deals being concluded right now, primarily due to adverse weather conditions. Previously chartered vessels cannot reach Azov sea ports for loading, in addition, weather conditions in the Black Sea do not contribute neither to the open positions of vessels. Despite the presence of demand for grain from Turkish, Greek and Italian buyers, companies are in no hurry to conclude sale contracts. This is due not only to weather conditions, but also to the long registration of licenses necessary for the export of a number of grain when shipping after February 15th, as well as in the hope of a drop in freight rates due to the introduction of quotas. It is also worth noting that this week the tax on all three taxed types of grain crops has risen again, to 4,653.5 rubles per ton for wheat, to 3,209.1 rubles for barley and to 1,670 rubles for corn.