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Freight report, 26 week 2020
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Region: Volga-don basin, the Azov sea, Black sea, Caspian sea
Tonnage: Bonfire

On the 26th the week freight market of Azov sea showed no significant changes. Freight grew on average by $ 1, due to the likely pressure in anticipation of the coming grain season. Many Charterers were trying to close the spot position as soon as possible to protect yourself from the sharp rise in rates. In these circumstances, the Shipowners have managed to balance the market, and in some cases turn it to their side. While spot shipments are still small, and the number of proposed fleet exceeds demand, but the Owners have already flatly refuse to work for minimum rates, fearing to miss a long-awaited increase in the market.

Traders believe that the activity will resume from the 27th week. By this time, according to market participants, in the port you should see the barley of the new harvest, and the wheat should begin hard negotiations. However, many agree that until mid-July global changes are expected on the market. However, Owners are trying to close only spot positions, holding promtly fleet in case of abrupt changes of the freight.

At the beginning of the new season crops are traded in a very large range of prices. Strong oscillations of the latter are explained by the coming news and forecasts of the coming harvest in the main grain producing country. So in Europe for several weeks reduced yield forecast. In Russia, on the one hand due to the lack of moisture reduces the weekly forecast for winter barley, but at the same time, raised its forecast for the wheat and other late crops. Because of this uncertainty, long-term contracts is very small, which slows the growth rates in General.

In the reporting week the market appeared suggestions from Charterers with spot shipment ships, the actual paperwork the 1st of July. This allowed the Senders to withdraw the immersed volume of the quota and take the hydrofoil at a low rate. Such proposals, even given the risks of downtime of the fleet, demand from Shipowners, which once again demonstrates the shortage of goods on the market.

The transit market in recent weeks felt the pressure down. In comparison with the beginning of navigation, the demand for transit fleet fell since the bulk of the emergency supplies were taken, and the Charterers have become more attentive to the choice of ships. This was the reason for the decline in rates as in the direction of the Caspian sea and back. Additional influence came from the fact that the main part of transit cargoes in the direction of the Caspian sea to Turkmenbashi port, from which there emerged a cluster of ships. Flights in the opposite direction more often start from Bekdash, which also because of the huge cluster of ships appeared a large queue. Charterers have virtually no opportunity to work on the spot market to avoid large damerica. Thus, the reduction of freight they try to reduce losses.

Glogos Freight Report Week 26-1

Translated by service "Yandex.Translation"
Источники: Agro2b
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