After a sharp weakening of the ruble, Russian producers raised grain prices significantly; this backstabbed Traders profits and mostly neutralized region cargo flow.
Even supposing the forthcoming next weeks shall reinforce bleak Azov’s market, it would take time to achieve former regions throughput and employ all the spot tonnage which already started to accumulate. Such positive outcome is not to be believed in, as Traders unsure in short-term prospects of currency figures settlement, therefore avoiding new contracts prior to definite understanding of rubles movements.
Against the background of falling rates in the Azov basin, shipments on partially laden basis from Temryuk have become unprofitable for Ship owners of sea-type tonnage, in contrast to voyages with full capacity from the deep-sea ports of the Black Sea that is economically more effective.
Due to continuous fog over the Bosphorus notable amount of tonnage has accumulated in the strait, and many ships are not able to reach the destination in the defined lay-days. Such situation is profitable to the Charterers: if the fleet doesn’t meet laycan, they will have the opportunity to cancel charter and fix other vessels at more lucrative rates, as the freight market has declined over the last week.
Nowadays there is a growing demand for shipments from river grain elevators (Kamyshin / Saratov / Samara / Togliatti) among Owners of Russian-flagged tonnage. At current market conditions on Caspian basin voyages from Volga river-ports are considered more beneficial for Shipowners. Moreover during the week 15 freight level bss Astrakhan – Iran has lost 1 USD and reached 35 USD pmt.