Short Sea: Azov Freights Pushed by River Tonnage (12 July 2019)

Coaster freight rates are picking up as “grain market for river tonnage is very hot”, a broker working in the area is telling BMTI, explaining “owners three weeks before were asking for about US$ 19/mt for 3,000mt of wheat for a trip from Rostov to Marmara and last week rates of US$ 25/mt to Marmara were seen”. Freight rates in a range of US$ 23-24/mt are talked for voyages with loading in the Ukraine and heading to the Eastern Med with basis 1,000 discharge. Mid-July shipments are expected to be even substantially higher with rumours around of some US$ 28-29/mt from Russian ports to Izmir, basis 1,000 discharge. According to a local charterer for voyages out of Azov to the Adriatic owners are demanding mid-low US$ 30s/mt, compared to high US$ 20s/mt during the last months.

Seagoing coaster on the other hand still have to accept lower freight rates as the market remains weaker and probably stay so until end of August. A corn shipment of 8,000mt has been concluded at a rate of around US$ 14.50/mt with delivery Constanta and destination in Greek Cyprus. From the Egyptian Med a fertilizer cargo of 3,000mt was talked in a range of US$ 21/mt for a redelivery in the upper Adriatic. Some steels of 9,000mt loading in the port of Novorossiysk saw a freight rate of about US$ 23/mt for delivery in the Egyptian Med and a voyage in the Black Sea from Odessa to Constanta was concluded at a freight rate of some US$12/mt for a shipment of 3,000mt of steel billets

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