01/03/2023

On the 9th week, freight rates in the Azov-Black Sea region continued decreasing slowly. Thus, contracts for a shipment of 3,000 tons of wheat from Azov to Marmara Sea this week are concluded at an average of $ 68 per ton. There are still few cargoes on the market, a significant number of charterers are in no hurry to ship wheat, corn and barley within the quota issued to them, waiting for a more profitable grain market environment. In addition, the export fee on all three main nomenclatures of exported goods is rising again this week, it will amount to 5275.2 rubles per ton of wheat, for the export of barley the tax will amount to 3872.3 rubles per ton, for the export of corn — 2264.6 rubles per ton. It is important to note that the observed drop in freight is very smooth, since there is not a large number of vessels opening on spot or prompt in the region. Improved weather conditions have allowed many vessels to reach the port of loading under previously concluded contracts, so the opening of a large number of fleet is expected only in two to three weeks, at the end of the current voyages.