On the 2nd week there is an increase in freight rates in the Azov-Black Sea region. If last week the rates were stable at the level of $ 30 for a shipment seofnding 3,000 tons of wheat from Azov to Marmara Sea ports, this week freight prices have risen on the average by several dollars, reaching a level of $ 33 per ton. The price increase is primarily due to the publication of data on the amount of grain that will be allowed to export from Russia from February to June. It will be about 11 million tons of wheat and corn, which is several million tons fewer than the last season. The information about the quotas´ distribution will be published on the Ministry’s website on February 8th. Under these circumstances, many charterers have become more active in order to have time to export grain before the above-mentioned quotas come into force.

At the same time, it is worth noting that most Turkish warehouses are still full of grain, as a result of which there are quite a few shipments to the Marmara Sea. More popular are long-distance destinations such as Italy, Mersin or Egypt. Rates for those have increased more significantly this week than for the ports of the Marmara Sea. In addition, it should be noted that at the moment the rates are supported by active shipments of non-grain cargo from the ports of the Black and Azov Seas, such as coal or steel.

On the Caspian region the cost of shipping from Astrakhan and Makhachkala remains consistently high, as the water level is still low, which does not allow vessels to take a sufficient amount of cargo.
At the moment, it is possible to send 2500mt of wheat from Astrakhan by an Amur-type vessel.
Due to the unstable political situation in the country, the level of freight from Aktau has significantly decreased. At the moment, the cost of sending grain to Northern Iran is USD 23 pmt.

In the Baltic region during the New Year holidays, the freight has decreased significantly due to the lack of cargoes on ARAG and the Continent. Shipowners have become more willing to agree to shipping to regions such as Ireland and England for prices significantly lower than at the end of last year. In addition, in the face of a shortage of cargo, shipowners are showing interest in shipping cargo from such ports as St. Petersburg and Kotka, despite the need for ice wiring. Thus, the cost of sending from St. Petersburg to ARAG dropped to EUR 61 pmt.