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Azov Sea freight rates cover OPEX by only 50-70% after another cut


Trade remains extremely dull in the Azov Sea amid long holidays in Russia. There are plenty of open sea-river vessels in the region. The charterers now offer only $14/t for transportation of 3,000 t of grain from Rostov to TBS and $16/t for shipment to the Marmara Sea. In fact the deals are signed very close to these levels, and the owners manage to get at best $0.5-1/t more. The contract for transportation of 3,000 t of grain from Yeisk to Samsun is currently negotiated at $13-14/t. The charterers are ready to pay at best $28/t for shipment of 3-5,000 t of grain from Azov to Albania. A 3,000 t lot of barley (sf 53`) from Azov to Iskenderun has been fixed at $30/t. New offers of coal and steel scrap are very few at the moment. The owners are now ready to accept $26/t for spot shipment of 3,000 t of scrap from Rostov to the Marmara Sea, but they are seeking to get about $30/t for cargo transportation in 2H May, as they believe the market will recover after the holidays.

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