At the end of last week market seemed to find it’s equilibrium, but now with development of Ukraine crisis things may change. Is’t obvious now that rouble shall devaluate more this days and so give exporters more opportunities to sell Russian grains, this may pish market up and kepp it at hight side after removing of ice restrictions which we expect on 15-20 March 2014. Moreover uncertainty with Kerch transshipment will shift transshipers to Kavkaz and it will subsequently require Russian flagged vessels to be involved more than ususal. This will cause freight for Caspian transit which may get to their maximum since beginning of navigation at early April dates.
