04/05/2022

On the 18th week, the sharp decline in freight rates continues in the Azov-Black Sea region. Thus, for a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports shipowners agree to a rate of $ 46 per ton, at the same time, many charterers believe that the working level of freight is around $ 35 per ton. Mainly, the drop is explained by the shortage of cargoes on the market caused by long holidays in Russia and Turkey, which is now the main market for Russian grain. Probably, by the beginning of next week there will be some revival of the grain market, but freight rates are likely to continue falling. Cargoes to European countries are also present on the market. The rates are lowered much more slowly on them, since many shipowners are afraid of sending their vessels to ports of unfriendly countries, despite the absence of problems for Russian-flagged vessels in practice.