Sea-river rates stay at the very bottom in Azov Sea

Market activity remains extremely low in the Azov Sea as a result of a minimal demand for Russian grain and coal in Turkiye. Freight rates stay at the very bottom. Thus:

• Similar to the previous week, a couple of 3,000 t lots of wheat are offered for shipments from Rostov/Azov to Marmara at $17-18/t, while owners are seeking to get closer to $20/t (still means $1.1-1.4k daily vs. $1.6-1.7k daily in TCE bss dely Kerch straits or below $1k daily bss RV);
• The deal for transportation of 3,000 t of wheat bran (sf 54-55`) from Rostov to Marmara has been signed at $19/t (equivalent to $1.3-1.5k daily bss dely Kerch straits);
• Meanwhile, some traders are not ready to pay more than $13/t for shipment of 3,000 t of wheat from Rostov to TBS, which sounds incredibly low for owners and is not even worth any calculations;
• Coal exporters, for instance, target $14-15/t for transportation of 3-5,000 t of coal from Rostov bb to TBS;
• Shipment of 2,000 t of general cargoes from Temryuk to Marmara is negotiated at low $20s/t.

As for the long-haul biz:

• The deal for shipment of 3-5,000 t of peas from Yeisk to Mersin is discussed at $28/t, which is equivalent to $1-1.1k daily bss RV or $1.4-1.5k daily bss dely Marmara, or $2-2.2k daily bss dely Kerch straits redel EMed for a 3k dwcc vessel;
• Ship owners are seeking to get at least $32/t for transportation of 5,000 t of wheat from Yeisk to Alexandria, but charterers target max $30/t (means $2.6-2.8k daily vs. $2.3-2.4k daily in TCE bss dely Marmara);
• Brokers suggest very low $30s/t for shipment of 3,000 t of wheat from Azov to Durres;
• Carrying 5,000 t of coal from Taganrog or Yeisk to Iskenderun with high l/d rates is estimated by ISM at mid-high $20s/t.