The freight market of Azov-Black Sea region continues to show positive tendency on the 15th week of 2020. An additional factor in freight rates increasing on this week was the worsening of weather conditions in the Black Sea. Most of the vessels were compelled to anchor in the ports of the Black and Marmara seas, waiting for the end of the storm and weather improvement. Due to the lack of spot tonnage on this week, the freight rate for shipment of 3000 mts of wheat from Azov to Marmara sea ports has reached the level of USD 22 PMT. However, many shipowners, due to increased demand for tonnage, are trying to fix on higher rates, trying to cover winter period losses.
With the opening of river navigation, some shipowners sent their fleet to the Caspian region, what has led to an increase in open tonnage in the river, especially in the Volgograd region. Freight rates for shipment of 3000 mts of corn from Astrakhan to the NIP keeps the last week’s level at USD 32 PMT.
On the deep sea market there is still a great demand for cargo from the Persian Gulf, due to a lot of spot handy/panamax vessels in this region. Due to the increasing demand for coal and fertilizers in East Asia, in particular in China, the number of shipments to this direction, which is one of the most attractive for many shipowners, has significantly raised.
There still remains difficulties with North Africa ports for this market segment. Due to many restrictions, which were introduced in connection with the coronavirus, there is a long waiting at berthing and beginning of loading and discharging operations.
Despite the quarantine and all the difficulties, freight rates for 30-35k vessels continue to grow and on Novorossiysk – Mediterranean ports direction has reached the level of USD 16 PMT.