The 42th week in Azov region continues to show the positive dynamics in freight rates increase. A great amount of cargoes from Azov sea ports have led to rates’ growth by another $ 1 and price for shipment of 3000 Mts of wheat from Azov port to Marmara sea ports has become USD 23 pmt. Increase in the number of cargoes in Azov sea region has improven the shipowners positions and has permitted them to ask for higher freight rates for their vessels. Charterers, in their turn, are trying to wait as long as possible and to fix vessels on spot, hoping to get better price.
A lot of vessels with Russian flag are looking for cargoes ex Russian river before ending of navigation as they have much higher freight rates. Officially, the navigation in Russian rivers will be closed on 25th of November.
Caspian region demonstrates even faster growth in freight rates. The 42th week the price of shipment of 3000 Mts of corn from Astrakhan to NIP has reached USD 33 pmt, what is $ 6 higher than the level of 40th week.
Shipowners are keeping their vessels till spot dates in order to get better offers from charterers, what leads to lack of tonnage and expected freight rates increase.