On the 17th week there is a sharp decrease in freight rates in the Azov-Black Sea region. The freight level for shipment of 3000 mts of wheat from Azov to Marmara sea ports reached the level of USD 63 pmt.
Many charterers and shipowners expect that the Russian May holidays will be marked by a further reduction in freight to the level of the average 50es.
The number of cargoes on the market is small, as the level of demand for grain from Turkey remains low. More requests appear for the Italian direction.
It should be noted that despite the opening of navigation on the Russian river a few weeks ago, this direction still remains unpopular. So far, major players in the grain market, traditionally actively buying grain from the Volga region, do not express interest in buying goods from this region. At the same time, parts of last year’s harvest are still not exported, and some companies plan to start shipping them in late May-early June, primarily to the Marmara Sea ports and Mersin