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Rise in freight costs at Russian ports

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Freight costs for coal delivery from Russian ports rose in July, compared with June. There was an early start of grain exports from Russia’s Azov and Black Sea ports which meant a sudden shortage of available vessels in Baltic and Barents Sea ports.

Freight rates for small bulk carriers on routes from southern ports rose by up to US$8/t, while rates for prompt coal deliveries from Russia’s northwestern ports increased by US$1 – 2/t on the month in July.

But freight costs for delivery from the far eastern ports of Russia fell slightly on the month because of sufficient vessels availability in Asia Pacific.