Grain cargoes appearing on the market have led to increased demand in spot tonnage, what has positively affected the freight market and has shown a growth in freight rates by USD 1.
Water level decreasing in Azov-Don Sea Canal also has affected the increasing of freight rates. A lot of shipowners are waiting for improving of current situation and don’t rush to fix their vessels. This has allowed other owners to ask for higher freight. Freight rate on 38th week for Azov – Marmara Sea direction is USD 19 per metric ton for 3000 mts of wheat.
Regarding Caspian region, it remains weak due to lack of cargoes. Freight rates are on the previous week level and are USD 24 PMT from Astrakhan port to the Iranian direction.