Turish Grain Board (TMO) is helding tender for purchase of 250.000 mt of wheat mainly from Black Sea suppliers with delivery period between sep 10 and sep 27 2019.
90.000 mt should be directed to Mediterranean Turkish ports, balance of 160.000 mt to shorter Turkey range of Black and Marmara seas.
Especially with those 160.000 mt certain hopes of market recovery is connected. 160.000 mt means 30-35 voyages for regular 5000-tonners or 50-55 voyages of regular 3000 tonners. Taking into account short delivery period its quite enough on one hand to raise freight market, but not enough to employ all vessels disengagaed from transshipment programme, which believed to be over 50-60 units.
In our opinion TMO tender could and would rise freight market 3-4 usd pmt on the top of the current rates, but it should not be enough to induce further market growth.
