08/02/2023

On the 6th week, freight rates in the Azov-Black Sea region are maintained at the level of last week – about $ 71 for a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports. It should be noted that there are very few cargoes on the market now, since most charterers expected the distribution of quotas for the export of wheat, corn and barley published today. Now the shippers are to go through the procedure of obtaining an export license, which, according to the experience of previous years, may be somewhat delayed. Thus, the activation of the grain market in Azov will occur closer to the 20th of February. At the same time, there is no sharp drop in freight rates observed, because many vessels open in the second half of February, among other reasons due to adverse weather conditions observed in the region in recent days, which causes delays. It should also be said that the export fee on wheat has increased upto 4,496.6 rubles per ton since February 8th, and taxes on barley and corn have also increased to 3,175.2 rubles and 1,505.7 rubles, respectively. In addition, it is worth noting that the previously adopted ban on the export of ammonium nitrate has now added difficulties with the export of carbamide. The port authorities have imposed an unspoken ban on shipment of any fertilizers in big bags.