On the last week of this year in Azov sea region the level of freight rates remain stable and the price for shipment of 3000 mts of wheat from Azov port to Marmara sea ports remains equal to USD 23 PMT. Due to forthcoming holidays there is a decrease in the amount of cargoes and for the first time in a long time the increase of spot tonnage is observed in the market.
Owners are trying to fix their vessels as soon as possible not only on spot dates, but also for the first weeks of new 2020 year, while charterers haven’t gone on Christmas vacation. However, not all charterers hold owners opinion are in no hurry to fix vessels with their cargoes, expecting a significant reduction in rates in the first weeks of new year.
In the Caspian region has been a sharp decline in the level of rates for the first time in several months. On the 52nd week the freight rate for shipment of 3000 mts of corn from Astrakhan to Northern Iranian ports is USD 37 PM, what is USD 3 less than last week level.
This is due to a significant increase in the number of spot tonnage on the Caspian market and a decrease in the amount of cargo, which forces shipowners to go to concessions and accept the terms of charterers.