A drop in the ruble exchange rate has positively affected the export of goods from Azov sea ports. The frt rate for Azov-Marmara sea ports for 3000 mts of wheat has reached the level of USD 18-19 PMT. The lack of spot tonnage in this region also supports the of freight level.
There are a lot of cargoes to European countries, including Italy. Despite the good rates, the situation with the spread of coronavirus makes many shipowners of coasters temporarily to refuse to work in this direction. The rest are asking for a significant increase in the freight rate to cover their expenses in case of vessel quarantine.
The Caspian region also shows a significant increase in the amount of cargoes, which led to freight rates growing. In particular, the shipment of 3000 mts of corn from Astrakhan to Northern ports of Iran has reached a level of USD 31 PMT.
Approaching the opening of river navigation has led to an increase in tonnage from river ports, as charterers want to export their cargo volumes as soon as possible. There is no official announcement of navigation opening dates, but given good weather conditions, it should happen earlier than at the end of April, as it was planned before.
Deep sea freight market is also showing a positive trend. Despite the epidemic and quarantine in most countries, the freight rates are only increasing. However, in order to avoid unpleasant consequences and unforeseen costs, charterers prefer to prescribe quarantine items in a recap with owner. Nevertheless, a significant increase in freight rates due to the current situation with coronavirus is not observed. High demand for cargo from the Persian Gulf ports to the direction of Turkey remains, what allows charterers to fix vessels at lower and more favorable rates.