On the 23rd week, for the first time since the long and rapid increase in freight rates, in the Azov sea region the rates have remained at the previous week level. The price for transportation of 3,000 mtons of wheat from Azov to Marmara sea ports remains at USD 31-32 pmt level.
The amount of cargoes has decreased since the beginning of June and many market players expect rates to start falling by the end of the month. Most shipowners prefer not to be in a hurry to fix their vessels and to see how the market will behave in the near future.
There is also a lack of cargo from Russian river ports, and the main activity is expected to start with a new harvest, tentatively in August-September of this year.
It is worth noting that the export fee on Russian wheat this week rose to USD 29.4 pmt. The fee for corn and barley was set at USD 50 and USD 39.6 pmt, respectively.