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Grain freight rates back on peak levels in Azov Sea

24.10.17
15:18

Despite downward trend reported last week, the owners of fleet have managed to raise grain freight rates to peak levels again, even despite modest offer of wheat for transportation to Turkey. Market participants refer the increase in rates mainly to acute shortage of sea-river vessels in spot positions caused by adverse weather conditions that halted navigation in the Kerch Strait.

Players report quite a large gap in charterers’ ideas. So, some exporters are ready to pay $39/t for transportation of 3,000 t of wheat from Azov to the Marmara Sea, while others offer at best $37/t. Reportedly, some charterers are even ready to pay $39/t for shipment to TBS, though are unable to find a vessel so far. At the same time, most owners of fleet want to get $40/t for cargo transportation to TBS and $42-43/t for shipment to the Marmara Sea. The shipowners are seeking to get at least $55/t for transportation of a similar lot of grain to Mersin. At the same time, the charterers offer mere $41-42/t for shipment of 3,000 t of wheat from Azov to eastern Greece. A 5,000 t lot of maize is exported from Temryuk to Iskenderun at $44/t. The owners of fleet want to get at least $50/t for transportation of 3,000 t of scrap from Rostov to the Marmara Sea, while another deal for shipment to Izmir has been fixed at mere $46/t. The shipowners are seeking to get at least $54/t for transportation of 3,000 t of coal from Rostov to Iskenderun with low l/d rates, while the charterers are ready to pay $52/t. At the same time, large coal traders are ready to pay $29-31/t for shipment of 3-5,000 t of coal from Azov to TBS with good l/d rates, while the owners of fleet want to get $35/t.

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