06/08/2020

On the 32nd week it is noticeable that freight rates are decreasing in Azov-Black sea region. For example, freight rate for 3000 MT of wheat from Azov to Marmara dropped down to 18 USD per metric ton. Such market behavior is caused by overoptimistic expectations of the charterers and owners, who were hoping for trade increase with Turkey and Arabic countries after the end of the holidays. Moreover, news regarding aggravation of the pandemic in Europe do not support the trade and the growth of the sales contracts, which also leads to negative impact of the freight market.

As for the deep sea market, demand for supramax, panamxax and ultramax is really noticeable, because of the growing grain export and import. Owners are not ready to give rates and predictions one or two weeks in advance, as the requests are increasing day by day.
The most popular destinations for grain market are China and Vietnam.

In Baltic sea region, fertilizer market is pretty quiet, there are even no shipment to such popular destinations like Brazil or USA. On the other hand, coal market has been increasing slowly for handy and supra vessels.
Freight rates in the Caspian Sea region increase a little on this week, freight rate for the transportation of 3000 tons of corn from Astrakhan to the Northern Iranian Ports reached usd 19 per ton. The number of cabotage shipments has increased and there are a lot of cargoes going from Russian river ports to Astrakhan port. In addition, freight rates for shipments from Caspian Sea ports to Black Sea ports has increased.