On the 34th week we can track a slight increase in freight rates in Black and Azov sea. For example, the freight rate for 3000 mt of wheat from Azov to Marmara is around 18,5-19 USD per metric ton. The rise in freight rates is connected with appearance of a few cargoes on the market. However, we can note that not all shippers can see the positive dynamics in export grain sales. Most of them are waiting for price increase from their clients to renew the trade.
Last week tendency is staying the same on the deepsea market in Baltic sea. Right now, there are even more cargoes for handy/supra in this area, that’s why the freight rates are growing day by day. A lot of Charterers have lost a significant part of their profits, because they had to pay more than what had been put in their sales contract. Owners, in this situation, are predicting that the market will continue growing and they hope that they will be able to compensate their spring time loses.
Moreover, there are more and more cargoes in Black and Mediterranean seas for supra/ultra vessels. A significant percentage of turnover is directed to India and China, that also influences on the freight rates increase. For instance, the freight rate for 50 000 MT of wheat from the port of Novorossiysk to the Indian ports would be of about 39 USD. On the handy size market we can also note a kind of revival, connected with the wheat shipments from the Black sea region to North African ports.
On the 34th week the freight rates in Caspian region have slightly increased comparing with the week before. There is still a lot of cabotage cargoes going to the ports of Azov and Caspian seas, which leads to the lack of vessels in this area. At the same time, we can´t observe an increase in the number of shipments for export in the Caspian region.