On the 40th week in Azov- Black sea region freight rates are decreasing. For example, the freight rate for 3000 mt of wheat from Azov sea port to Marmara went down to 20 USD per metric ton. This decrease is explained by reduction of the cargo quantity on the market, which was led by Turkish and European buyers, who are unprepared to offer profitable prices for traders and export companies. Moreover, the threat of the second wave of the pandemic is not helping for market stability.
On the other hand, the situation is getting brighter on the Baltic sea market. New cargoes are appearing every day, which is leading for freight rates increase. A lot of owners are not ready to go far away from ARAG range, because they are hoping to get profitable offers soon in the Baltic sea.
The situation is comparable on the Deepsea market in this region, where there are also a lot of good options. Thus, a lot of owners are willing to go back to Continent/ Baltic from Mediterranean Sea or North Africa. We can also note, that some companies are considering shipping their grain cargoes from Baltic sea ports instead of Azov.
On the Black Sea market, there is no rush. Traders are not in a hurry of selling huge lots, as the deep sea market is still unstable. They are waiting for precise forecast of the freight rates, so they can calculate their profits.
However, the demand for the vessels with dwcc 30 000 tons is stable in Black and Med seas, because of permanent shipments of large companies such as Aston, Rif, Cargill and others.
There are still a few amounts of cargoes in the Caspian Sea region on 40th week. However, Charterers are beginning to calculate freight rates for grain shipments from Kazakhstan. Also, Iran plans to make a tender for the purchase of corn and soya beans, which may increase amount of grain shipments to Northern Iranian Ports. Charterers are actively asking for freight rates for the transportation of fertilizers from Turkmenbashi port.