Charterers manage to flatten out sea-river rates ex Azov Sea
After a slight upturn seen last week, activity has stabilized and even slowed down a bit on the Azov Sea freight market: fresh grain offers for mid-1H June laycans are very few these days. As a result, charterers have managed to prevent further rate growth:
Owners still want to get $38-40/t for shipment of 3,000 t of wheat from Rostov/Azov to the Marmara Sea, while charterers are ready to pay about $37/t;
Transportation of 2.8-3,000 t of bran from Rostov to the Marmara Sea costs $37.5/t, while shipment to Izmir costs $40.5/t;
The deal for transportation of 5,000 t of grain from Yeisk to Egypt is negotiated at low-mid $50s/t;
Carrying 3-5,000 t of grain from Rostov/Azov to eastern Greece is estimated by ISM at low-mid $60s/t.
At the same time, coal shipments have perked up somewhat, especially those to EU countries:
Realizing the impossibility of calling European ports by vessels flying the Russian flag, owners want to get more than $50/t for shipment of 3-5,000 t of coal from Rostov to Bulgaria, while charterers are ready to pay mid-high $40s/t;
Carrying 3,000 t of coal from Rostov to Iskenderun is estimated at low $50s/t, while transportation of a 5,000 t stem from Yeisk to the Marmara Sea is quoted at $33-34/t.