Navigation 2015 at Volga and Don is expected to be defined as shallowest in a history with permissible draft on Don river after Rostov not exceeding 3,0 m and on Volga river at Gorodetskiy lock not more than 2,8 m. This will ahve serious affect on whole souther market of sea-river vessels. Most of traditional Caspian transit traders including newly built 6-7000 tonners shall not be able to load commercialy reasonable cargo quantity on permissible draft and so will be pushed out of transit market onto sea-river lower Don market and so create redundant tonnage supply. It can cause several important consequences. Firstly all Caspian transit cargoes shall be covered only by very limited number of Omskiy and Sibirskiy type among which the youngest vessel is celebrating 20 years in 2015 - this coupled with sanctions removal on Iran and so significant extension of iranean trade may retsult as highest in history transit freights allowing to earn for 35 years old Omskiy more than USD 5000,- daily. Secondly Middle Volga grains could be reasonably sold only to Iran as moving of grains down to Black sea would be costly enough. In case of good crop and very high freights we expect opening of grain transshipment on Rostov roads from river barges to sea-river as transshiment capabilities of all river silos above Rostov shall be very limited owing to draft restriction. Thirdly redundant tonnage supply will cause low start for season 2015/16 especially taking into consideration late spring and consequently later crop.