Things go on despite of bayram holidays at Turkey.
We did not see any spot tonnage during this holiday so market seems continue growth to its maximums which likely to be achieved within next 2-3 weeks. We expect freight rate Azov to Marmara at about USD 40,- pmt or slightly higher at the top. Further rise will be very doubtful due to overall pure condition of the the freight market. We see freights between USD 11 and 12 for 10-12000 tonners Kavkaz/Marmara and about USD 16-17 for 5000 tonners Kavkaz/Marmara which toghether with delivery and transshipment cost gives USD 40,-42, pmt for 5000 tonnes of wheat Azov/Marmara and surely would limit market of smaller coasters.
For longer destinations it’s no any sence to employ small sea-river as transshipment scheme would be surely more attractive. We estimate top possible freight for 3000 mt wheat Azov to Egypt Med as USD 60,- at the end of august.
