Russia: Freight report in Volga-Don Basin, Azov Sea, Black Sea, Caspian Sea as of 38th week 2021

Published 2021년 10월 2일

Tridge summary

The article discusses the current state of the agricultural shipping market, focusing on the disagreement between shipowners and charters over freight rates, leading to a slowdown in fixes. Shipowners are aiming to maintain rates at $ 46 per tonne of wheat, while charters believe they have dropped to $ 40. The market will soon indicate which party will prevail. The article also mentions the anticipated corn shipments from Black Sea ports and the conclusion of the grain season in Brazil, where farmers are withholding crops due to expected price increases and potential impact of La Niña on future harvests. Additionally, the article touches on the Chinese government's temporary ban on phosphate exports, which could result in lower global prices and increased market competition, but also presents opportunities for traders to expand into new markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Now there is a large amount of open tonnage on the market, only Shipowners are in no hurry to show their fleet on the market, waiting for spot dates to start working any cargo. The gap in the level of rates between Shipowners and Charterers is now quite large, so the number of fixes concluded this week is very small. Shipowners are trying to keep the market at $ 46 per tonne of wheat on Marmara, while Charterers believe the freight market has already dropped to $ 40. Next week it will be clear who will be able to pull the market in their direction. Meanwhile, a significant amount of corn is planned to be shipped from the Black Sea ports, and the market in this region will definitely not decrease in the near future. The grain season in Brazil has already ended, almost all export quantities of corn and soybeans have been shipped. Brazilian soybean farmers are holding on to their crop rather than selling it as they expect prices to rise further as global stocks decline, according ...

Source: Agrovesti