On the 48th week, rates in the Azov-Black Sea region remain at the level established at the end of last week. Thus, contracts for the shipment of 3,000 tons of wheat from Azov to Marmara ports are concluded on average at the level of $ 62 per ton. It is worth noting that many charterers were expecting a reduction in rates due to the depreciation of the lira and the suspension of active trade with Turkish partners.

Nevertheless, extremely unfavorable weather conditions in the Black Sea and unfavourable forecasts have led to huge queues in the Kerch Strait and a shortage of free tonnage, which makes it possible for owners to maintain a high level of rates on the market.

In these conditions, the rates for long-distance destinations also remain high. Charterers are actively considering the fleet for the end of December and for January dates for Italy and Egypt.

In the Caspian region, freight rates continue to grow due to closure of river navigation and a shortage of free tonnage on the market. The freight rate for the shipment of 3,000 mts of corn this week from Astrakhan to NIP has increased upto USD 45 pmt.
In the Baltic region, the situation is more stable, freight rates remain at the level of last week.