On the 24th week there are still low freight rates in Azov sea region and the price for shipment of 3000 mts of wheat from Azov to Marmara sea ports is already equal to USD 12 PMT. Owners are waiting for new grain season, hoping that with the end of export restrictions on 30th of June, there will be much more cargoes on the market.
In the Caspian region due to lack of cargoes from Makhachkala and Astrakhan ports, most owners started working fertilisers cargoes from port of Turkmenistan. This fact has led to a congestion of vessel in Turkmenbashi and long queue for loading. The freight rates in Caspian region remain on the last week level.
In the Baltic region, on the deep sea market, there a still very few cargoes, most part of shipments are made mainly on previously concluded contracts. There is a small flow of coal and fertilisers cargoes to England and Ireland, but most market participants are waiting for the new season as many shipments are planned for July period.
The good news of this week is the exclusion of soybeans from the list of banned products for export. Its export will be allowed from June, 13. This can positively affect the freight market in Baltic region.
In the southern regions, there is also not much activity, freight rates dropped to the level of USD 8-9 PMT for 30k shipment from Novorossiysk to the ports of the Mediterranean Sea.