On the 21th week in the Azov sea region the low level of freight rates is kept. The number of spot vessels is only increasing, but there is still lack of shipments from ports of Azov sea. In the next two weeks, their further decrease is possible, as long holidays begin in Turkey.
The freight level on the 21th week from Azov to Marmara sea ports for 3000 mts shipment remains on the level of USD 15 PMT. The end of the grain season 2019/20 is unfavorable for most shipowners. The situation is likely to change only with the beginning of the new grain season in July with ending of export restrictions for grain cargoes.
In the Caspian region, freight rates continue to decrease. On the direction Astrakhan – NIP, the freight level for the shipment of 3,000 mtons of corn has already reached the level of USD 21-22 PMT. There are still not enough cargoes, and quite a lot of open fleet. Only some owners with Russian flag have permanent shipments as they have concluded contracts for export of fertilisers from Turkmenbashi port to the ports of Azov-Black sea region.
There is slight improvement on the deep sea market. The main activity is observed on the fertilizers market, which are now transported much more often than other cargoes. The level of freight rates this week remains at the same level, shipment of 30,000 mtons from Novorossiysk to the ports of the Mediterranean Sea is at the level of USD 12 PMT. Many shipowners are trying to transfer their fleet to the Asian region, where there is more activity and more favorable freight rates.