16/09/2021

On the 37th week, there was recorded an increase in freight rates in the Azov-Black Sea region. Thus, the rate for a shipment of 3000mts of wheat from Azov to Marmara has risen again to the level of 46 dollars. Such an increase in rates was unexpected for many market players, since wheat export fees continue to rise significantly.

Thus, the export fee on wheat from September 15 will increase from $46.5 to $52.5 per ton, the tax on barley will increase to $33.1 from $26.1 per ton, while the fee on corn – will decrease to $49 from $51.1. At the same time, the increase in freight rates can be explained by several factors. First of all, in the context of a sharply growing tax on wheat, shippers are actively looking for spot vessel positions, which cannot but warm up the market. In addition, the export tax on barley was reduced last week, as a result of which some charterers began to actively consider contracts for this type of product.

It is also worth noting that over the past week, other cargo nomenclatures began to appear on the market, such as millet, peas and bran, which were withheld by cargo owners for several months. Among other things, it should be noted that requests for long-distance destinations have become more frequent, primarily for Mersin and Iskenderun, as a result of which the long-distance freight market has also recorded growth. there is still no intensification of trade in shipments from river ports, which is due to the reluctance of cargo owners to sell the goods at the current price level.