Azov Coaster Rates Surge on Delays (20 Sep 2023)

Freights from the Sea of Azov have rocketed by as much as US$ 8/mt week-on-week due to extreme unavailability of tonnage and the associated delays in passing the Kerch Strait. Current delays are said to be averaging 8-15 days with little immediate relief in sight. Rising opex (spurred by rising bunker prices) are giving owners one more reason to hike their rate ideas from last-done going into the last quarter of the year. With Yeisk delivery to Marmara, standard grain cargoes are fetching high US$ 60s/mt of up to US$ 69/mt while Rostov delivery with the same redel is said to be trading beyond US$ 70/mt with some reports of even US$ 73-74/mt done. Danube freights remain volatile with Reni/Marmara grains in the range of US$ 40-45/mt, depending on terms. For news and trends in the European short sea markets every week, subscribe to the BMTI Short Sea Report.

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