At 14th week, freight rates continue to rise in the Azov-Black Sea region. The freight level for shipment of 3000 mts of wheat from Azov to Marmara sea ports has reached the level of USD 21 PMT.
Shipowners prefer not to fix their vessels for long dates and to wait for spot, expecting the maintaining of a positive tendency on freight market and fixing on more profitable rates.
In the Caspian region freight rates are also increasing. The price for shipment of 3000 mts of corn from Astrakhan to Iranian North Ports has achieved already the level of USD 32 PMT. The prolonged bad weather conditions in NIP caused ports congestion for few days, what has made owners to change their laycan dates for next shipments. In this way now is a problem to find open vessel as the ,most part of them can’t be sure in their next open dates.
Many charterers prefer not to plan new shipments due to new restrictions on grain export and to wait how it will affect the export.
On the deep sea market, on the contrary, there is a decrease in freight rates for capesize / supramax and panamax vessels, due to a small number of shipments. One of the reason is the tendency for many ports to close; many ports in South Africa and India were also closed this week. This fact makes charterers wait with shipments due to concerns about closing their discharge ports. In connection with the spread of coronavirus, problems remain with shipments to countries in Southeast Asia.