On the 22th week a relatively low activity remains in the Azov sea region. The level of freight rates for a shipment of 3000 mts of wheat from Azov to Marmara sea ports remain on the USD 14-15 PMT level. A large number of spot vessels positions maintains low freight rates.
On this week some traders were able to improve their positions. Tuesday, May 26, about 230 thousand tons became available for export. It has permitted grain traders to get permission for export of their grain cargoes and to fulfill their obligations to customer.
In the Caspian region freight rates continue to decrease. The price for shipment of 3000 mts from Astrakhan to NIP has already reached the level of USD 21 PMT. The low level of cargo offers in this region forces many shipowners to look for cargoes to Azov and Black Sea region. So they would be able to return in Caspian region right to the beginning of new grain season, when the freight market should improve.
Long holidays in Iran led to the congestion of vessels at Anzali and Amirabad ports. Waiting for berth at these ports for this moment is equal to 3-4 days.
On the deep sea market , particularly in Baltic region, there is a slight improvement in trading activity of fertilisers and metals, what has a positive effect on freight rates raising. Trading activity is also growing on the Continent, in comparison with other regions. Coal companies are actively calculating shipments of their cargoes for the second half of summer due to the forecasts that quarantine will end by that time.
The freight rates on the 22th week for 30k shipment from Novorossiysk to Mediterranean Sea ports remain on the previous week level – USD 12 PMT.