Freight & Bunkers News

Apr 23 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
For the 21st day of April, the volume of exports of agricultural products by road amounted to 198.6 thousand tons, which is 10.4% less compared to the same period in March. The decline in agricultural exports was observed through all checkpoints.
The largest drop was recorded at Slovak and Romanian checkpoints. The volumes of agricultural exports decreased by 24.1% and 13.4% to 10.5 thousand tons and 48.4 thousand tons, respectively. At the Polish and Moldovan borders, exports decreased by 10.2% and 6.1% to 82.9 thousand tons and 31.4 thousand tons.
The lowest decline was recorded at the Hungarian border, where in April 21, the volume of exports decreased by 3.1% - to 25.2 thousand tons.
The main export goods for the corresponding period were sunflower oil - 20.7 thousand tons, and sugar - 17.3 thousand tons.
The cost of transportation on Ukrainian routes has not changed.
Rates on European destinations decreased by 1-2 € compared to the previous period.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @113-142€
· Ternopil region - center. Bulgaria @85-114€
· Cherkasy region. - Pd. Romania @118-128€

- RAILWAY LOGISTICS
In the railway transportation market of grain crops during the last week the situation remained stable — tariff rates have not undergone significant changes. Despite the overall low activity, carriers that have stable partnership with customers continue to work with profit. At the same time, the situation remains difficult for less flexible or new operators.
The free fleet of cars is kept at a high level, which indicates a limited need for transportation and gives additional signals of restrained demand.
According to the freight forwarders, in the short term, the situation is likely to remain unchanged, because new impulses for growth are not yet available.

- WATER LOGISTICS
Due to the limited number of cargoes and the lack of new applications from the Danube ports, the rates for coasters have decreased. This allowed the charterers to strengthen their positions, forcing the shipowners to adjust prices. As a result, rates in the direction of Italy decreased to 28-30 $/t.
At the same time, the market of sea transportation from the ports of Big Odessa remains stable. Freight rates for vessels such as hendisays are 16-17 $/t in the direction of Italy and 17-19 $/t - to Spain.

Apr 23 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market is very weak. Still strong Russian ruble making trade difficult. Charterers are ready to pay higher money bss 3'k lots. 3'k wheat lots from Rostov to Marmara can be fixed at usd 21-22 pmt fiost in prompt. In contrast, 5-7'k lots is lower, and many of these vessels are having difficulty finding cargo. As a result, charterers are exerting downward pressure on rates.

BALTIC SEA: The Baltic basin is experiencing low activity this week. Following the holidays, traders seem less engaged.

CASPIAN SEA: In recent months, the situation with cargo transportation through the ports of the Caspian basin has remained tense, especially in the context of cargo shipments from Russian ports. Despite the increasing difficulties and challenges, Kazakhstan's ports continue to actively export grains, especially barley, which indicates good demand from Iran.

FAR EAST: The market remains stable, with minor fluctuations.

Apr 23 - Weekly Ocean rates - Freightos Baltic Index
- Asia-US West Coast prices (FBX01 Weekly) fell 5% to $2,343/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 5% to $3,467/FEU.
- Asia-N. Europe prices (FBX11 Weekly) fell 1% to $2,340/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 7% to $2,935/FEU.

- President Trump’s exemption of many electronics from reciprocal tariffs – including from the 145% minimum levy on all Chinese exports – has not slowed the steep drop in China-US container trade that started on April 9th.
- Some US-bound vessels are reportedly departing China only half full as many shippers cancel orders that have now more than doubled in cost. In response, carriers are blanking sailings at the rapid rate reminiscent of the start of the pandemic when demand collapsed for several months.
- Inventories that importers built up from frontloading over the last few months will allow many shippers to wait out the current tariff hike on Chinese goods for several months, while spiking demand for bonded US warehouses also reflects this wait and see approach. Very recent statements from the president and Treasury Secretary to the effect that negotiations, de-escalation, and a significant lowering of tariffs on China could be coming soon may be encouraging for shippers currently in a holding pattern.
That carriers are blanking few Asia - Europe sailings despite the record capacity scheduled on this lane suggests that demand is increasing to Europe, with speculation that some orders canceled by US shippers are being diverted to the European market.
- The European Commission, concerned with a potential flood of Chinese goods, has started monitoring import levels closely. A sharp increase in container traffic to Europe could also exacerbate the current port congestion at several European hubs. Alternative export markets for China, like India, are also anticipating an increase in finished Chinese goods if China is forced to diversify away from the US.

- China’s decision to retaliate US tariffs – which has meant a drop in US exports as well – sets it apart from nearly all other countries opting to negotiate with the US instead. In addition to seeking commitments to lower barriers to and buy more US exports, the US may also ask partners to reduce their trade with China – an element China is warning these countries against and threatening retaliation.
- Though the tariff roll out on China has put China - US ocean demand on pause, the 90-day reprieve on all other reciprocal tariffs means that many shippers on other lanes will continue to frontload ahead of the July deadline in case negotiations fail. Carriers on these lanes may be expecting an early – and possibly short – peak season as a result, with Peak Season Surcharges of $2,000/FEU announced for May, and Maersk’s Asia - US PSS excluding shipments from China.
- Though country-to-country level data shows rates to the US have increased slightly from origins like Vietnam since the tariff pause, prices from China – despite reports of a sharp drop in demand – have surprisingly not collapsed. On the overall lane level FBX Asia - N. America rates eased only slightly last week. The significant upcoming transpacific blanked sailings will aim to prevent a sharp rate slide despite falling volumes. Asia - Mediterranean prices increased 7% to about $3,000/FEU last week, and may reflect some diverted volumes and increased demand on this lane.
- Frontloading to date, China tariffs, and the possible introduction of more tariffs in July will likely mean a drop in US container import volumes for H2. The WTO projects the trade war in its current form will cause global trade in goods to contract by as much as 1.5% and US imports to fall by 10% or more – with import strength so far this year meaning most of that drop will come in the second half of the year. A dramatic de-escalation and lowering of tariffs would minimize these impacts, though volumes already pulled forward may nonetheless mean a somewhat slower H2 than normal.
- Finally for ocean freight, the USTR released a revised port call fee proposal targeting Chinese ship building.
The scaled-back though still significant fees would go into effect in October, apply only to Chinese carriers or China-made vessels, and be assigned per call to the US instead of per port call. This version is also subject to change, with a hearing scheduled for May, but its current iteration would not lead to the significant port call omissions and congestion that many feared would result from the original per port call proposal.

Apr 23 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 2% to $5.54/kg.
- China - N. Europe weekly prices stayed level at $3.75/kg.
- N. Europe - N. America weekly prices fell 1% to $2.11/kg.

- There were more signs this week that the looming May 2nd cancellation of US de minimis eligibility for Chinese imports will have a significant impact on the air cargo market.
UPS and FedEx are applying surcharges to China-US parcels for the rest of the month, possibly reflecting a last-minute surge in demand ahead of the expiry, and Hong Kong Post announced it will no longer handle US-bound parcels in protest to the tariffs. DHL has suspended service for imports above the $800 but below $2,500 in value which since April 5th have required a formal entry process, as the sudden rule change has overwhelmed operations.
Temu and Shein informed their US customers that they will increase prices this week due to the US policy changes. Recent increased sales on these platforms may also reflect a last-minute rush by US shoppers before the May deadline, with China-US air cargo rates level at about $5.50/kg since climbing 20% through March.

Apr 23 - Black Sea may hold back world wheat supplies into 2026
The global wheat market narrative has recently shifted, though it's easy to have missed it. Exportable world wheat supplies in 2024-25 are no longer expected to fall to multiyear lows, a perhaps predictable outcome based on recent patterns. But the relief could be temporary. Meager outlooks for the upcoming wheat harvests in Russia and Ukraine, which account for about 30% of global wheat exports, mean that the thinning supply story could reemerge for 2025-26, and potentially for real this time.

Apr 23 - Jordan buys estimated 60,000 metric tons of wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $261.70 a ton cost and freight included for shipment in the second half of July, they said.

Apr 22 - Thai first-quarter rice exports fall 30% annually
Thailand's rice exports fell 30% annually in the first quarter of this year to 2.1 million metric tons, an industry association said on Monday. The decline was due to countries delaying buying decisions and India resuming rice exports, Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, told reporters.

Apr 22 - Vietnam cracks down on fraud on US exports, document shows
Vietnam's trade ministry has issued a directive to crack down on illegal transhipment of goods to the United States and other trading partners as it tries to avoid steep U.S. tariffs, according to a document reviewed by Reuters. The ministry in the directive, which was dated and effective April 15, said trade fraud was likely to increase amid growing tension caused by U.S. tariffs.

Apr 21 - First wheat shipment since Assad's ouster arrives in Syria's Latakia
A ship carrying wheat has arrived in Syria's Latakia port, the first delivery of its kind since former President Bashar al-Assad was ousted by rebels in December, the government said on Sunday. Officials of the new Islamist-led government say that while imports of wheat and other basics are not subject to U.S. and U.N. sanctions, challenges in securing financing for trade deals have deterred global suppliers from selling to Syria.

Apr 21 - Russia's March seaborne grain exports fell 58% to 2.3 million tons
Russia's seaborne grain exports dropped by 58% year-on-year in March, falling to 2.3 million metric tons, according to shipping data from industry sources released on Friday. Russia, the world's leading wheat exporter, shipped grain to global markets at a record pace during the first part of the 2024/25 marketing season, which began on July 1 of last year. However, the introduction of export quotas in February led to a sharp decline in exports.

Apr18 - Easter Holidays

There are lots of holidays this week and next due to Christian Easter holidays.
Some countries like Brazil are closed on both Friday 18 (Good Friday) and Monday 21 (Easter Monday). Here in France things are only closed on Monday.

Apr 17 - US cotton exports to India rise on lower prices, tariff uncertainties
U.S. upland cotton exports to India have risen in the past few months fueled by global tariff conflicts, declining American prices and rising demand in the South Asian country, industry experts said. Exports to India from February to April jumped to 155,260 running bales, from 25,901 shipped during a year ago period, according to the U.S. Department of Agriculture's data.

Apr 17 - Algeria buys about 570,000 T wheat in tender, traders say
Algeria’s state grains agency OAIC has bought an estimated 570,000 metric tons of milling wheat in an international tender which closed on Wednesday, European traders said in initial assessments. Some estimates of volume bought were up to 600,000 tons.

Apr 16 - Weekly Ocean rates - Freightos Baltic Index
- Asia-US West Coast prices (FBX01 Weekly) increased 10% to $2,465/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 3% to $3,647/FEU.
- Asia-N. Europe prices (FBX11 Weekly) fell 1% to $2,365/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 5% to $2,751/FEU.

It’s been another headspining week in Trump’s second trade war replete with more escalations, u-turns and confusion and uncertainty for shippers.
- The president’s unprecedented reciprocal tariffs on about 60 US trading partners announced on April 2nd went into effect on the 9th, only to be paused for three months a day later. China – which chose to retaliate against the reciprocal tariffs – was excluded from this 90-day pause as a flurry of retaliations and counter retaliations ended with both countries imposing a minimum of 125% tariffs on each other.
- Trump further exempted electronics – including smartphones, computers and semiconductors – from all reciprocal tariffs late last week for an unspecified period of time. This carve out includes these types of goods from China, though the president’s 20% tariffs imposed on China earlier in the year as well as any from previous years would still apply.
To start the month the president initiated a trade investigation into semiconductors – and the many electronics that contain them – which could mean the electronics exemption will be short lived and replaced by a separate, global, sectoral tariff in the coming weeks, with an investigation into pharmaceutical trade also underway.
- As the 90-day pause was limited to the reciprocal tariffs, it kept the 10% global tariff in place and other tariffs like the 25% levy on Canada and Mexico and 25% tariffs on vehicle imports in effect as well. Trump stated though, that he is considering a short-term exemption for vehicle imports to give companies time to shift operations to the US.
- Many countries are already pushing to negotiate with the US during this three month reprieve though no settlements have been announced yet and the EU, for example, reports that talks have not been productive. Trump has called on China to come to the negotiating table as well. With so much apparently subject to change and therefore still up in the air, importers are very hesitant to make any drastic changes to their supply chains just yet.
- For freight, last week’s reciprocal tariff roll out resulted in reports of a widespread drop in container bookings out of Asia. The 90-day pause on those tariffs alongside the escalation of US trade hostilities with China however, mean that while shipments out of China remain paused, many of those sourcing from other Asian countries have already started increasing their orders again in an effort to get ahead of possible tariff resumptions in July.
- With a minimum of 125% tariffs on all goods out of China remaining in place, there are reports of an extreme drop in container export bookings out of China as shippers wait and see what will happen next, with reports of an increase of blanked sailings on this lane as demand slumps.
- Many US importers on this lane had been frontloading goods since the November election in anticipation of tariff hikes. This inventory build up should enable many shippers to hit pause for a while and see where negotiations might lead before deciding their next moves – shifting to other sourcing options or resuming shipments from China and facing higher costs.
For shippers on other lanes, the 90-day reprieve means another window to pull forward goods ahead of possible tariff increases, with reports that frontloading is already underway. This new opportunity for frontloading will likely mean some increased demand for ocean freight on these lanes in the near term, followed by lower demand (and rates) after the deadline passes – another indication that the typical peak season months will be subdued due to demand pulled forward since late last year.
- The near term need to blank sailings out of China and possibly increase services from other origins in Asia may prove challenging for ocean carriers and cause delays for shippers, with empty containers concentrated in China likely to pose a challenge too. Transatlantic surcharges announced for May could also point to carrier expectations of frontloading ahead of the July deadline.
- The overall Asia - N. America lane-level container rates increased somewhat last week, reflecting the start of the month GRIs, though daily rates so far this week have reversed much of those modest gains. But the likely pull back in demand out of China and increase in demand from other Asian origins may be reflected in diverging rates on the port-pair level.
- Freightos Terminal data shows that container rates from China, Taiwan and Vietnam to the Long Beach all climbed sharply following the April 2nd tariff announcements – possibly reflecting the rush to load goods by April 9th when the reciprocal tariffs went into effect. But while rates from Shanghai have dropped 16% since tariffs went into effect, prices from Taiwan and Vietnam have stayed elevated.
- In other trade war-related news for ocean freight, the USTR’s proposed port call fees targeting Chinese-made vessels will likely be revised to a less far-reaching version and may not be rolled out for several months, as this measure will be part of the more comprehensive Maritime Action Plan that the president last week requested that federal agencies deliver within seven months.

Apr 16 - Weekly Air rates - Freightos Air index
- China - N. America weekly prices fell 1% to $5.43/kg.
- China - N. Europe weekly prices fell 1% to $3.75/kg.
- N. Europe - N. America weekly prices fell 5% to $2.13/kg.

For air cargo, the looming May 3rd US de minimis cancellation for all Chinese imports may already be resulting in a slow down of e-commerce imports from Chinese platforms like Shein and Temu. Freightos Air Index China - US rates nonetheless remained elevated at close to $5.50/kg last week. The electronics and pharmaceuticals exemptions from reciprocal tariffs, as well as the approaching May 3rd roll out for automotive parts tariffs, could drive some short term increase in air cargo demand for these types of goods, though so far these factors have not been reflected in rate increases.   

Apr 16 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
As of April 15, the volume of exports by road amounted to 153.5 thousand tons, which is 3.5% more than in the same period in March. The rate of export through border posts varied depending on the direction.
Hungarian to the Romanian checkpoints continue to show positive dynamics. The volumes of agricultural exports through them increased by 23% and 5% - to 21.4 thousand tons and 37.5 thousand tons, respectively.
At the Polish and Slovak checkpoints, exports almost did not change compared to the previous month and amounted to 64.1 thousand tons and 9 thousand tons.
Due to the Moldovan border, export volumes decreased by almost 6% - to 21.4 thousand tons.
The main export goods for the month were sunflower oil - 15.5 thousand tons, and sugar - 14.2 thousand tons.
Rates of domestic transportation increased by 3$ compared to the previous period. The cost of European routes also shows growth, the range is 3-4€, depending on the route.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @115-143€
· Ternopil region - center. Bulgaria @86-116€
· Cherkasy region. - Pd. Romania @120-130€

- RAILWAY LOGISTICS
Over the past week, the domestic railway transport market continues to show lower tariffs. The shipping cost has decreased by a few dollars per ton, reflecting the general trend of weakening activity in the segment. Among the main factors — the lack of new export demand and the completion of peak logistics cycles. Operators are increasingly reviewing their price offers in the direction of reduction, trying to adapt to a limited market.
In many directions, there is an excess of free rolling stock, which only increases the pressure on the rates. At the same time, the motor transport continues to select a part of the volumes, especially at short distances, offering more operational conditions.
The prospects for the coming period remain moderately pessimistic. The market is waiting for a new season, which can intensify transportation. By that time, the overall picture is unlikely to undergo significant changes, and rail logistics will continue to operate in conditions of reduced demand and soft price pressure.

- WATER LOGISTICS
Last week's price stability was observed in the maritime market. The cost of transportation from the ports of Greater Odessa and the ports of the Danube has not changed, which is due to the limited volume of export cargo and the surplus of free fleet. In the absence of sufficient demand, shipowners have no reason to revise the rates.
The cost of transportation by hendisayzamy from the Black Sea to Spain is $ 17-19 / t, to Italy - $ 16-17 / t. Freight rates on coasters from Ismail to Italy - 29-31 $/t.

Apr 16 - Trump orders tariff probe on all US critical mineral imports
U.S. President Donald Trump on Tuesday ordered a probe into potential new tariffs on all U.S. critical minerals imports, a major escalation in his dispute with global trade partners and an attempt to push back on industry leader China. The order lays bare what manufacturers, industry consultants, academics and others have long warned Washington about: that the U.S. is overly reliant on Beijing and others for processed versions of the minerals that power its entire economy.

Apr 16 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer bought around 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house Cargill at an estimated $263 a ton cost and freight included for shipment in the second half of August, they said.

Apr 15 - Russian wheat export prices down slightly as conditions improve for new crop
Russian wheat export prices were down slightly last week as weather for the new crop improved, but conditions remained volatile, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board delivery in May was down $1 to $250 a metric ton compared to the previous week, said Dmitry Rylko, head of the IKAR consultancy. The Sovecon consultancy estimated prices for Russian wheat with the same protein content at between $250 and $253 a ton FOB, compared to $250-$254 last week.

Apr 15 - Algeria tenders to buy nominal 50,000 T milling wheat, traders say
Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on Monday. The tender sought a nominal 50,000 metric tons but Algeria often buys considerably more in its tenders than the nominal volume sought.

Apr 14 - China March rare earth exports jump as Myanmar supply disruption keeps buyers nervous
China's exports of rare earths jumped 20.31% in March from a year earlier as overseas consumers booked more cargoes, fearing prices could rise further due to supply disruptions from the ongoing conflict in major supplier Myanmar. China's exports of the group of 17 minerals stood at 5,666.3 metric tons last month, according to data from the General Administration of Customs.

Apr 14 - Bangladesh said to buy 50,000 T rice in March 27 tender, traders say
Bangladesh's state grains buyer is believed to have to purchased about 50,000 metric tons of rice in an international tender which closed on March 27, traders said on Friday. Traders said the purchase was made at an estimated $416.44 a metric ton CIF liner out, which was the lowest price offered in the tender.

Apr 11 - Ukraine hikes minimum export prices for corn and wheat

Ukraine's farm ministry has this month hiked minimum export prices for wheat and corn, the country's key agricultural commodities, ministry data showed on Thursday. In December, Ukraine introduced a new system for exporting key agrarian goods, including grains, which implies a ban on shipping consignments of goods at prices below those set by the agriculture ministry.

Apr 11 - South Korea's FLC bought about 65,000 T corn from U.S. in deal last week
South Korea's Feed Leaders Committee bought around 65,000 metric tons of animal feed corn expected to be sourced from the United States in a private deal late last week without issuing an international tender, European traders said on Thursday. The corn was purchased at an estimated $248.49 a ton cost and freight included with an additional $1.50 a ton surcharge for additional port unloading.

Apr 10 - Strike halts grain ship traffic at Argentina's Rosario portsGrain and agro-industrial products ships will be unable to dock or leave Argentina's Rosario agro-port hub on Thursday because of a CGT union strike against government policies, the head of the private port chamber CAPyM said. "We will not be able to dock and moor the ships," Guillermo Wade, manager of the Chamber of Port and Maritime Activities, told Reuters, citing the strike by the Maritime Workers Union and the river navigators' union.

Apr 10 - Brazil green coffee exports fall around 27% year-on-year in March
Brazilian green coffee exports fell 26.5% in March compared with the same period a year ago to 2.95 million 60-kilogram bags, according to data released on Wednesday by local exporters' group Cecafe, which cited record shipments in 2024 as the cause of the decline. Brazil, the world's top coffee producer and exporter, shipped abroad 2.81 million bags of arabica beans, a nearly 11% decline year-on-year, while exports of the robusta variety tumbled some 84% to about 138,500 bags, the data showed.

Apr 09 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In the first week of April, the volume of agricultural exports by road transport has suffered a slight decrease compared to the same period in March and amounted to 73.8 thousand tons. The dynamics of exports through border posts was heterogeneous.
At the Romanian and Hungarian borders, there was an increase in agricultural products skipping by 6.7% and 4.7% - up to 18 thousand tons and 9.2 thousand tons, respectively. The volumes of export through the Polish checkpoint almost did not change - 32.3 thousand tons.
On the Slovak and Moldovan borders, a decrease in agricultural exports was recorded by 15.2% and 9% - up to 4 thousand tons and 10.3 thousand tons.
The leaders of exports for the corresponding period were sunflower oil (8.2 thousand tons), and sugar (6.5 thousand tons).
The cost of domestic transportation decreased by $ 1 compared to the previous week, the prices of European destinations are now constant.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @111-139€
· Ternopil region - center. Bulgaria @86-116€
· Cherkasy region. - Pd. Romania @117-126€

- RAILWAY LOGISTICS
Last week, there was a slight decrease in the rates for rail transportation of grain in Ukraine. On average, tariffs decreased by $ 1-2 compared to the previous reporting period, depending on the direction.
The main reasons for this are the stable low market activity, as well as competition between operators seeking to keep the volume of traffic in conditions of limited demand.
The demand for railway logistics services remains limited due to a number of factors. First, the active phase of export of previous crops has ended, which is traditionally accompanied by a decrease in the volume of transportation. Secondly, a significant pressure on the market creates competition from road transport, especially on short logistic routes, where road transport is more flexible and operational. This reduces the workload of the car fleet and creates an excess supply of rolling stock on the market.
Expectations for April remain restrained. Market participants do not predict significant changes if there are no new factors of demand - in particular, from large agricultural traders or in the case of logistic changes in the border areas. A conditionally stable situation can persist until the beginning of the new season, when the domestic and export logistics are traditionally activated.
In general, the situation in the railway transportation market indicates the extension of the period of price correction due to a structural imbalance between supply and demand.

- WATER LOGISTICS
The market of sea transportation from the ports of Big Odessa remains stable. Freight rates for vessels such as hendisays are 16-17 $/t in the direction of Italy and 17-19 $/t - to Spain. A key deterrent to the growth of rates remains the imbalance between the excess available fleet and the limited demand for transportation.
From the ports of the Danube there is a moderate increase in rates - an average of $ 2 / t. The cost of delivery from Izmail to Italy increased to $ 29-30/t.

Apr 09 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: This week, the Azov Sea market weakened further as buyer activity declined not just in Turkey, but also in Egypt and Albania. The unfavorable Ruble / USD exchange rate has contributed to a decrease in vessel demand. Additionally, the recent opening of wheat imports in Turkey has yet to have a positive impact on the market.

BALTIC SEA: The Baltic Sea market is experiencing stability this week.

CASPIAN SEA: The market conditions in the region continue to be strained. A major factor hindering activity is the zero export quota on barley and corn, which significantly affects the market. After a period of stagnation, barley exports from Kazakhstan have bounced back and are now demonstrating consistent export levels. However, road congestion in Aktau still persists, with delays lasting between 2 to 3 weeks.

FAR EAST: The market remained stable this week.

Apr 09 - Brazil coffee exporters glimpse opportunity amidst U.S tariffs
Brazilian coffee exporters see U.S. President Donald Trump's global tariffs as an opportunity to send more robusta beans to the United States after international rivals were hit with even heavier charges. Trump's tariffs levy a charge of 10% on imports from Brazil, while Vietnam and Indonesia - the world's first and third-largest robusta producers - got hit by 46% and 32% tariffs respectively.

Apr 09 - Brazil protesters lift blockade of Amazon grain shipping route
Brazilian indigenous protesters have lifted a blockade of the Trans-Amazonian Highway, reopening a critical grain shipping route linking farmers to the Miritituba river port, traders association Abiove and a toll road operator said on Tuesday. Munduruku indigenous activists intermittently shut down the road, also known as the BR-230, beginning on March 25 to put pressure on Brazil's Supreme Court to overturn a 2023 law limiting indigenous land rights.

Apr 08 - Weekly Ocean rates - Freightos Baltic Index
- Asia-US West Coast prices (FBX01) increased 3% to $2,246/FEU.
- Asia-US East Coast prices (FBX03) increased 5% to $3,541/FEU.
- Asia-N. Europe prices (FBX11) fell 5% to $2,385/FEU.
- Asia-Mediterranean prices (FBX13) fell 10% to $2,910/FEU.

The initial shock of President Trump’s long-awaited tariff announcements last week are giving way to economic fallout as well as confusion on the competing messages, competing viewpoints within the White House, and sometimes competing aims of the new tariffs – protectionist or aimed at removing foreign trade barriers? Long-term or temporary?
Whatever the aims, the global 10% tariff that went into effect last week and the reciprocal tariffs of varying levels on exports from a list of nearly 60 countries that start tonight – together with the other existing duties and those rolling out shortly – dwarf Trump’s first administration tariff initiatives both in their scope and degree.
For our full-  rundown on tariff details and implications click here.
- The new 34% reciprocal tariff on all Chinese goods stacks on top of the 20% Trump imposed earlier this year and the 19% Trump/Biden tariffs already on the books for many goods – meaning a minimum duty of 54% for all Chinese goods and more than 70% for many items. And while the tariffs on China pushed many importers to other Asian sourcing partners since the previous trade war, this time many of these alternatives are subject to steep duties as well.
 
*Canada and Mexico tariffs apply only to goods not included in the USMCA
Exemptions to these new rules include an extension of the carve out for imports from Canada and Mexico that are covered by the USCMA , though the new global automotive tariffs will still apply to the non-US share of value for each import. Likewise, any import with a minimum of 20% US-manufactured value will only pay global, reciprocal or automotive tariffs on the foreign share of value, which may lead to shippers scrambling to calculate and demonstrate US contributions to their imports.
The executive order also excluded a long list of other goods including steel and aluminum already subject to separate tariffs, and goods like semiconductors, pharmaceuticals, and lumber, which may have been spared because they will be targeted for separate sectoral tariffs soon.
- China has already retaliated with new tariffs on US exports – though Trump has threatened to increase US tariffs on China by another 50% if China does not cancel its retaliation – as has Canada, with the EU considering additional measures, all of which will negatively impact US exports. Many other countries, including Vietnam, are actively trying to negotiate a resolution instead.
- In the meantime, the trade war intensification is increasing the likelihood of recession in the US and beyond.
For our full rundown on tariff details and implications click here.
- For ocean freight, the time allotted between the tariff announcements last week and the reciprocal tariff roll outs tomorrow meant a short window for shippers to get some final goods loaded before the 9th to avoid the new tariffs. This final rush included a scramble not only to load containers, but some quick shift to LCL and air cargo too. There are concerns that the sudden policy changes will also mean customs delays for arriving shipments.
- With so much confusion and uncertainty – and with many shippers already holding a significant amount of inventory frontloaded over the last few months to get ahead of new tariffs – we’re likely to see a significant drop in container demand to the US in the near term, and possibly in the intra-Asia manufacturing ecosystem too, as shippers wait for the dust to settle and for the outcome of the reciprocal tariff negotiations.
- Whether due to frontloading or to a possible tariff-driven drop in consumer demand the Port of LA thinks H2 volumes will be down 10%, but not collapse, even if peak season is more subdued than usual. Other observers are less optimistic, and fear a recession – combined with growing overcapacity in the container market – could lead to a demand decrease and rate collapse like those that followed the 2008 financial crisis.
- Indeed, as capacity continues to grow from newbuild introductions on the major trade lanes, even with Red Sea diversions continuing to absorb capacity, ex-Asia rates have fallen sharply since Lunar New Year, with container prices now beneath their 2024 floor.
- Rates rebounded by a few hundred dollars per FEU on the transpacific on start of month GRIs last week, though no bump came through for Asia - Europe lanes, as carriers increase capacity management efforts. The expected tariff-driven drop in demand will only put more downward pressure on rates.

Apr 08 - Weekly Air rates - Freightos Air index
- China - N. America weekly prices fell 3% to $5.48/kg.
- China - N. Europe weekly prices stayed level at $3.79/kg.
- N. Europe - N. America weekly prices fell 7% to $2.24/kg.

- For air cargo, the tariff announcements likely meant a short burst of demand before April 9th and could mean some increased volumes in the lead up to May 3rd when tariffs on auto parts will take effect and, more significantly, the US will cancel de minimis eligibility for all Chinese goods.
The de minimis exemption has been a big driver of the surge of B2C e-commerce goods going by air from China to the US, and its cancellation is expected to lead to a sharp drop in China - US air cargo demand and rates. Freightos Air Index data shows that China-US rates – still elevated at about $5.50/kg last week – have yet to spike ahead of the May deadline.

Apr 08 - Hong Kong customs seize antimony amid China's export controls
Hong Kong customs seized suspected antimony ingots, customs said in a statement dated April 2, a move that comes after China, the world's biggest producer of the metal, imposed export controls on shipments in September. The 25,171.85 kg of antimony was found on March 13 inside a 40-foot outbound container at the city's cargo compound in the north of Hong Kong, near the mainland border, the Hong Kong Customs and Excise Department said, without giving a specific reason for the seizure.

Apr 08 - Soybeans wait in the wings while US, China exchange blows: Braun
U.S.-China Trade War 2.0 is heating up and soybeans, China’s top U.S. import, are in the crosshairs once again. But the soybean battle may be lackluster right now because of how little trade is done at this time of year and how few U.S. cargoes are left to ship to China this season.

Apr 07 - Amazon shipping route for Brazilian soy disrupted by protests, poor roads
Indigenous protests and poor roads have disrupted shipping of Brazil's bumper soybean crop in recent days via the river port of Miritituba in the Amazon rainforest, worrying global companies including Cargill and Bunge which have important operations. Abiove, an association representing grain handlers, said on Friday road access to Miritituba has remained under partial or total blockade for two weeks, preventing the shipment of around 70,000 tons of grains per day, which corresponds to almost $30 million in product value.

Apr 07 - Malaysia Smelting Corp's tin deliveries disrupted by gas explosion, letter says
Malaysia Smelting Corp, one of the world's biggest tin producers, has told customers its deliveries have been disrupted by a gas pipeline explosion, according to a letter seen by Reuters. A huge fire broke out at a gas pipeline operated by state energy giant Petronas in Puchong on the outskirts of Kuala Lumpur. The fire was extinguished, but MSC said gas supplies had been disrupted.

Apr 05 - Markets on the verge of a nervous breakdown
This week was tough for financial markets. Major indices took a nosedive after Donald Trump unveiled "reciprocal" tariffs that were much higher than anyone anticipated. The baseline is a 10% tariff, but some nations are feeling the heat far more. China is staring down the barrel of a whopping 54% in customs duties, Vietnam isn't far behind at 46%, and the European Union, by comparison, is getting off with a "slap on the wrist" at 20%. Volatility is the name of the game as risk aversion makes a dramatic comeback. Just when you thought it couldn't get any more chaotic, China decided to throw its hat into the tariff ring, announcing a 34% levy on U.S. products this Friday. The trade war isn't just a looming threat; it's here, and it's shaking up the markets with gusto.

Apr 04 - South Korea’s KFA bought about 65,000 T corn in private deal, traders say
The Korea Feed Association in South Korea is believed to have purchased about 65,000 metric tons of animal feed corn in a private deal on Thursday without issuing an international tender, European traders said. It was believed to have been purchased by the KFA’s Incheon section from trading house Posco at an estimated outright price of $250.90 a ton cost and freight included.

Apr 04 - Low water hinders Rhine shipping in Germany as river falls further
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine river in Germany with cargo owners facing higher transport costs, commodity traders said on Thursday. Major companies said that cargoes are still being delivered despite higher costs.

Apr 03 - Ukraine's Jan-Feb grain exports through Romania's Constanta drop to 226,000 tons
Ukraine shipped 226,000 metric tons of grain through the Romanian Black Sea port of Constanta in the first two months of the year, down sharply from 1.33 million tons in the same period last year, the port authority said on Wednesday. The drop reflects Kyiv's reliance on its own ports despite Russian attacks on shipping and infrastructure, though Constanta remains Ukraine's main alternative export route for grains since Russia launched its full-scale invasion in February 2022.

Apr 03 - By the numbers: The erosion of US grain export dominance: Braun
The United States was once the world’s breadbasket, commanding global grain and oilseed trade by a wide margin. The country still leads in corn exports. That title, however, has recently been threatened by Brazil, the same party that demoted U.S. soybean exporters to the No. 2 spot.

Apr 02 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)- AUTOMOTIVE LOGISTICSIn March, exports of agricultural products by road amounted to 324.5 thousand tons, which is 10.5% more than in February. At all borders, there was an increase in agricultural production.On the Romanian border, the largest growth was recorded at 18.1% - up to 84.6 thousand tons. Agroexport through Hungarian and Slovak checkpoints increased by 15.1% and 14.6% - up to 39 thousand tons and 20 thousand tons, respectively.The smallest increase was recorded at the Polish and Moldovan borders, where the indicator of agricultural exports increased by 7.4% and by 2% - up to 134.2 thousand tons and up to 46.7 thousand tons.The main export goods for the month were sunflower oil - 38.9 thousand tons, and sugar - 32.7 thousand tons.Prices for freight transportation on domestic routes are stable, the cost of European destinations has been slightly increased compared to the previous period.Market rates of tipper transport to Europe:· Ternopil region - center. / Mon. Italy @111-139€· Ternopil region - center. Bulgaria @86-116€· Cherkasy region. - Pd. Romania @117-126€- RAILWAY LOGISTICSAccording to the results of last week, the level of rates on rail transportation of grain remained unchanged compared to the previous reporting period. The lack of dynamics in the tariff change is due to low market activity and general trends in the transportation industry.The situation among carriers remains difficult. Due to the low demand for services, some carriers are forced to fly at minimal fares or even free of charge to avoid the car park downtime and parking costs. This indicates an excess supply of rolling stock against the background of low demand.Expectations for April remain similar to the situation in March. The demand for transportation remains stable, without significant factors that could affect the changing rates in the near future.Earlier it was reported that "Ukrzaliznytsya" canceled a discount for certain stations that were included in the list of preferential. The change of tariff policy of "Ukrzaliznytsia" in the form of cancelation of discounts applies only to these stations. This decision does not have a direct impact on the overall market, because it does not change the conditions for most carriers. Major market players continue to operate within the current tariffs without significant fluctuations.- WATER LOGISTICSFreight rates for coasters from the Danube ports decreased due to the lack of new applications and a limited number of cargo in the region, which strengthened the position of charterers and forced shipowners to adjust prices. The cost of transportation from Izmail to Italy fell to 27-28 $/t.The situation in the ports of Greater Odessa remains stable, and the prices for transportation are unchanged. The presence of a large number of free ships, combined with a shortage of stable cargo flows, further affects the market of sea transportation. The freight rates on the hendisayzy from Black Sea to Italy are 16-17 $/t, and to Spain - 17-19 $/t.

Apr 02 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: There is no significant activity on the Azov sea this week due to holidays in Turkey. However, the market's levels have remained relatively stable.
Higher demand for 3'k vessels and still many open 5-8’k tonners are looking for suitable employment on the spot.

BALTIC SEA: The Baltic Sea market continues to show resilience, with stable tonnage demand underpinning freight rates. In fact, the continental market is seeing even
greater activity than the Baltic.

CASPIAN SEA: The market in the basin remains challenging. The main factor slowing down activity is holidays in Iran, which continue this week, affecting the pace of work in the region. Barley exports from Kazakhstan have finally recovered after the holiday period and are now providing stable work for owners. However, despite the improvements, the waiting time at the roads in Aktau is still 2-3 weeks. In response to the current difficulties and taking into account the opening of navigation on the rivers, some shipowners have decided to redirect their fleet to the Azov basin, seeking to minimize their losses.

FAR EAST: The market remains stable.

Apr 02 - Delays in Paraguay soybean barge transit affects crushers in Argentina
An accumulation of sediment in the Paraguay River on Tuesday delayed barges carrying Paraguayan soybeans to Rosario, Argentina, according to transportation and crushing chambers from both countries. Argentina, the world's top exporter of soybean oil, relies on Paraguayan soybeans at this time of year, as the Paraguayan harvest has ended but Argentina's harvest begins this month.

Apr 02 - Ukraine's agricultural exports rise 9.8% in March, farm lobby says
Ukraine's agricultural exports in March rose 9.8% from the previous month to 5.4 million metric tons, Ukrainian farm lobby UCAB said on Tuesday. Ukraine is a global major grain and oilseeds grower and exporter.

Apr 01 - Ocean rates - Freightos Baltic Index- Asia-US West Coast prices (FBX01 Weekly) decreased 2% to $2,187/FEU.- Asia-US East Coast prices (FBX03 Weekly) increased by 1% to $3,369/FEU.- Asia-North Europe prices (FBX11 Weekly) fell by 2% to $2,512/FEU.- Asia-Mediterranean prices (FBX13 Weekly) decreased by 9% to $3,228/FEU.- President Trump has scheduled a Wednesday Rose Garden event for his tariff plan unveiling, and among the things that seem destined to remain extremely uncertain right up to the last minute is whether tariffs announced on Wednesday will be effective immediately or on some future date. And though Trump says he’s decided on a course of action other reports have the administration vacillating still. One major question is whether the White House will opt for reciprocal tariffs of varying levels on specific trading partners or impose a global tariff on all imports.
- It also remains unclear how the policy will reconcile the stated goals of raising revenue and increasing domestic manufacturing through tariffs, with the message that tariffs are aimed at eliciting concessions from other countries which could lead to the removal of the US tariffs.
- In addition to the reciprocal/global decision, the pause of the 25% tariffs on USMCA-covered imports from Canada and Mexico is also set to expire tomorrow, and federal agencies will deliver the president’s requested state of trade report –- which, among an array of policies, could be the basis for a 60% tariff on China –- today as well.- One firm tariff roll out date – barring another last-minute shift – is April 3rd when the US will apply a 25% tariff to all automotive imports. This as well as the Mexico/Canada deadline has driven a surge in cross-border trucking as shippers rush to beat the rollouts, and a last-minute flurry of air chartering for the same reason.  Projections of continued US ocean freight import strength to start Q2 may suggest that the prevailing uncertainty is leading many ocean shippers to continue to frontload until the tariff landscape becomes clear.
- But despite the possible current demand strength, transpacific container rates have fallen below last year’s floor in recent weeks, with Asia - Europe prices also easing past last year’s low as this lane enters its slow season. Carriers will try to push prices back up with start of month GRIs and an increase in blanked sailings – which may indicate that the transition to the new alliance configurations is making progress.  Reports of year on year scheduled capacity increases on the major lanes suggest that carriers are also contending with the effects of fleet growth and voiding sailings in response.

Apr 01 - Air rates - Freightos Air index

- China - N. America weekly prices increased 7% to $5.65/kg.
- China - N. Europe weekly prices decreased 2% to $3.79/kg.
- N. Europe - N. America weekly prices fell 2% to $2.41/kg.

- In air cargo, more signs of weakening China-US e-commerce demand include cancellations of BSAs and charters, new forwarder charters opening up, observations of increasing capacity and some forwarder expectations for lower volumes and rates in Q2.  Freightos Air Index data for China - US cargo nonetheless shows rates increased about 15% to $5.65/kg in the last month, possibly reflecting some tariff pull forward ahead of April 2nd on the spot market.  Asia - Europe prices have also increased over the past month to $3.79/kg, about 13% higher than a year ago.

Apr 01 - Grain traders ask Ukraine to suspend price mechanism changes, say exports at riskUkraine's grain traders union UGA said on Monday it and the UAC agrarian producers union had demanded that the government suspend additions to the mechanism for determining minimum export prices, warning that the changes could halt exports."An artificial ban on price reductions ignores market realities and threatens Ukraine's ability to conclude export contracts," it noted.

Apr 01 - Syria issues tender to buy 100,000 metric tons of milling wheat, traders sayA state grains buyer in Syria has issued an international tender to purchase about 100,000 metric tons of milling wheat, European traders said on Sunday. The deadline for the submission of price offers is believed to be April 28.

Mar 28 - Turkey cancels 50,000 T durum wheat sale tender, traders say
Turkey's state grain board TMO has cancelled an international tender to sell and export 50,000 metric tons of durum wheat which closed on Thursday with no sale made, European traders said. Traders said they had received notification of the cancellation of the tender from the TMO as it regarded as prices offered were too low.

Mar 28 - Taiwan buys estimated 100,000 T wheat of US-origin, traders say
The Taiwan Flour Millers' Association purchased an estimated 100,000 metric tons of milling wheat to be sourced from the U.S. in a tender on Thursday, European traders said. The purchase involved various wheat types bought in two 50,000 ton consignments for shipment from the U.S. Pacific Northwest coast.

Mar 27 - US fossil fuel, farm groups rail against Trump port fee plan at hearing
Fossil fuel and agriculture industry executives on Wednesday criticized a plan by President Donald Trump's administration for big fees on China-linked ships entering U.S. ports, arguing at a hearing in Washington that the move would hobble their ability to export everything from coal to soybeans. The proposed fees on China-built vessels could top $3 million per U.S. port call.

Mar 27 - Glencore declares force majeure on copper shipments from Altonorte smelter in Chile
London-listed miner Glencore has declared force majeure on copper shipments from its Chilean Altonorte smelter, where production has been suspended, two industry sources said. Companies declare force majeure when unexpected circumstances prevent them from meeting contractual obligations.

Mar 26  - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: This week the market is back to its low levels. News about opening Turkish wheat imports did not impact the market and this week many open 5’k
positions are looking for employment on the spot.

BALTIC SEA: The Baltic sea market is pretty firm this week.

CASPIAN SEA: The market has experienced stagnation in recent weeks. Many participants are choosing to limit their activities due to holidays in Iran. Meanwhile,
Kazakhstan is still recuperating from the holiday period, and the issue of significant vessel congestion along the Aktau route persists.

FAR EAST: The basin remains consistent, experiencing only slight variations.

Mar 26 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
For 24 days of March, the volume of exports of agricultural products by road amounted to 252.6 thousand tons, which is slightly higher than the indicator for the same period in February. The dynamics of exports through border posts demonstrates mixed trends.
The largest growth was recorded at the Romanian border - almost 8% to 66 thousand tons. Positive dynamics was also demonstrated by the Slovak and Hungarian directions, where the volume of agricultural exports increased by 3.5% and 3% - up to 15.7 thousand tons and 30.3 thousand tons, respectively.
At the same time, at the Polish and Moldovan borders, there was a slight decrease in the agricultural products' passes compared to the same period in February to 104.3 thousand tons and 36.2 thousand tons.
Leaders in exports for the corresponding period are sunflower oil (31.3 thousand tons), and sugar (26.2 thousand tons).
The cost of grain transportation by road inside the country increased by 2-3$, the prices for European routes remain unchanged.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @110-137€
· Ternopil region - center. Bulgaria @85-115€
· Cherkasy region. - Pd. Romania @115-125€

- RAILWAY LOGISTICS
As of March 20, almost all borders recorded growth in the transfer of grain cargoes. At the Polish and Slovak transitions, volumes increased by 3.5% and 3.2% - to 17.2 and 34.7 scales/day, respectively. At the Romanian border, the volume of carriages transmission began to recover, increasing 5.3 times a week - up to 2.9 scales per day.
At the same time, the Hungarian transition recorded a decrease of almost 4% - to 23.8 scales/day.
The total average daily load transfer rate increased by 10% to 154 weights per day.
The number of wagons heading towards the ports of Greater Odessa amounted to 4,567 units. The average daily discharge rate is 1111 weights per day. The accumulation of wagons in the direction of the Danube ports was 124 units. The rate of unloading of grain in the ports - 32 weights / day.
Railway transportation rates increased compared to the previous period. The growth range is 2-4$, depending on the direction.

- WATER LOGISTICS
After Russia's recent missile attack on the ports of Greater Odessa, many ship owners are still avoiding entry to these ports due to the growing risks. Those who are ready to continue working require an increase in freight rates as compensation for the danger.
However, the freighters refuse to accept increased tariffs, arguing that the freight traffic volatility and uncertainty of future traffic volumes. Due to the lack of compromise, the rates for sea transportation remain unchanged, despite the difficult situation in the region.
Transportation costers from Izmail to Italy cost 30-32 $/t. Hendisayzamy from Black Sea - 16-17 $/t to Italy and 17-19 $/t to Spain.

Mar 26 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 7% to $2,238/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 5% to $3,343/FEU.
- Asia-North Europe prices (FBX11 Weekly) decreased 6% to $2,565/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 7% to $3,529/FEU.

- Tariff fears – as well the already significant uncertainty and confusion surrounding the White House’s trade policy – grew this week with the April 2nd deadline set for many tariff announcements approaching.
- The Trump administration indicated that it will narrow the scope of reciprocal tariffs initially proposed for all US trade partners which have tariffs or other trade barriers on US exports or businesses. Only 15% of the long list of countries with a US trade imbalance and tariffs on US goods will be assigned reciprocal tariffs, but these countries account for most of both total imports to the US and the trade deficit. Reciprocal tariffs are expected to be announced if not applied on April 2nd.
- The levels of these tariffs will depend on the foreign tariff rates for US exports and so will vary, but the list of the top 15% – aside from China, Mexico, Canada and the EU – includes ostensible alternative sourcing partners like India and Vietnam as well.
- And though some reports indicated that certain planned sectoral tariffs would be postponed, yesterday President Trump stated that global duties on automotive and pharmaceutical imports would be announced soon, possibly even before April 2nd.
- The president also signed an executive order on Monday that, also effective April 2nd, will apply 25% tariffs – on top of any other applicable tariffs – on all goods from any country that purchases oil from Venezuela. In addition to China, this list could include Singapore, Vietnam and India.
- Finally, the USTR’s public hearing on its proposed significant port call fees targeting Chinese-made vessels is underway, with American BCOs, exporters, port labor and ocean carriers all objecting to the rule and the significant threats it would pose to their respective businesses.
- Recently heightened fears of steep US tariffs on imported alcohol from the EU on April 2nd, were enough for the US Wine Trade Alliance to advise members to stop all shipments. But despite the April deadline for many other possible tariff announcements, demand indications suggest that, overall, US shippers continue to frontload due to the uncertainty of what and when tariffs will be implemented. This pull forward is reflected in the recent build up of empty containers in LA/Long Beach.
- Transpacific ocean container rates have eased as demand has decreased relative to the pre-Lunar New Year rush. But despite volumes estimated to be significantly stronger than a year ago due to continued frontloading, rates have continued to slide.
- At about $2,200/FEU to the West Coast and $3,300/FEU to the East Coast, prices are more than 20% lower than 2024 lows on these lanes. The likely culprits of this trend are the increased competition and less effective capacity management resulting from the new carrier alliance roll outs, as well as continued fleet growth.
Asia - Mediterranean rates of $3,500/FEU are about 20% lower than post-LNY last year (though about even with its 2024 low), and Asia - Europe’s $2,565/FEU is 20% beneath its 2024 floor despite continued port congestion at many European hubs. With tariff frontloading not a factor on these lanes, easing demand and the impacts of the new carrier alliances are likely combining to push rates down.

Mar 26 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 4% to $5.26/kg.
- China - N. Europe weekly prices stayed level at $3.88/kg.
- N. Europe - N. America weekly prices increased 2% to $2.47/kg.

- In air cargo, a Heathrow electrical fire on Thursday night kept the airport closed for eighteen hours canceling more than a thousand flights and stranding more than 200,000 passengers. Though there were moderate air cargo rate increases to alternative destinations in the days following, so far there are few reports of significant resulting disruptions.
Freightos Air Index rate data also shows that ex-China prices to the US have rebounded by about 15% since earlier this month to more than $5.25/kg, and to Europe rates have increased by more than 20% to nearly $3.90/kg. The China - US rate recovery comes despite anticipated changes to de minimis rules that are expected to cause a significant drop in e-commerce volumes, with some reports that carriers are already gradually shifting capacity to other routes.

Mar 25 - Trump's port fees on Chinese ships threaten US maritime industry, say executives
President Donald Trump's plan to revitalize the U.S. shipbuilding industry is likely to backfire because it relies on proposed fees on China-linked vessels that will hurt domestic ship operators, seaports, exporters and jobs, industry executives said at U.S. Trade Representative hearings on Monday.

Mar 25 - Russian wheat export prices rise as buyers become more active
Russian wheat export prices rose last week as buyers became more active, with some major purchasers of Russian grain including Iran returning to the market, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board delivery in the second part of April increased by $6 to $255 a metric ton, said Dmitry Rylko, head of IKAR consultancy.

Mar 24 - CME plans Romania/Bulgaria wheat futures in new Black Sea push, traders say
Financial markets operator CME Group is working on plans for a Black Sea wheat futures contract tracking Romanian and Bulgarian prices, European traders said. CME, which has U.S. corn, wheat and soybean futures that act as global price benchmarks, suspended trading in its previous Black Sea wheat futures based on a Russian price index following the full-scale invasion of Ukraine.

Mar 24 - China's Sinograin to auction imported soybeans amid supply shortage
China's state stockpiler Sinograin is set to auction 160,000 metric tons of imported soybeans on Tuesday, its first such sale in two months after supply tightness prompted several processors to halt production. The auction, of soybeans produced between 2022 and 2023, will begin on March 25, with deliveries scheduled between April 1 and May 15, according to a statement released by the National Grain Trade Centre on Friday.

Mar 21 - EU eyes sharp cut to Ukrainian sugar imports after price slump, sources sayThe European Commission is looking to cut Ukrainian sugar imports sharply after EU producers complained that large shipments have fuelled a collapse in sugar prices, three sources told Reuters. Sugar imports from Ukraine are part of a larger dilemma the EU has faced in the last three years.

Mar 21 - Jordan tenders to buy 120,000 metric tons feed barley, traders say  
Jordan's state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Thursday. The deadline for submission of price offers in the tender is March 26.

Mar 20 - Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 10% to $2,397/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 6% to $3,537/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 11% to $2,740/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 9% to $3,792/FEU.

- Ocean container rates out of Asia continued to fall last week, slipping beneath 2024 lows on a combination of a post-Lunar New Year lull in demand, impacts from the new carrier alliance services still moving into place, and capacity growth.
- Asia - Europe prices dipped 11% to $2,740/FEU, 14% lower than their 2024 floor and Asia - Mediterranean rates eased 9% to less than $3,800/FEU, 10% lower than the nadir on this lane last year. The post-LNY demand slump may be more pronounced than usual on these lanes as shippers stocked up ahead of the holiday to account for Red Sea diversion-driven lead time increases. But rates are falling despite congestion at many European hubs, and some carriers have announced April GRIs in response though March increases were largely unsuccessful.
There are indications of some frontloading-driven demand strength on the transpacific. Eventual tariff roll outs or enough inventory build ups would put an end to this pull forward and will likely mean a weaker than usual H2.
- And though the tariff landscape remains extremely uncertain, federal agency findings that could lead to sharp tariff increases on China, reciprocal tariffs on a long list of countries, the USTR’s proposed port fees on Chinese-made vessels, as well as the reinstatement of 25% tariffs on all Canadian and Mexican imports are due in early April. The Federal Maritime
- Commission also recently opened an investigation into foreign government roles in container chokepoints.
But despite the current relative demand strength, transpacific container rates continued to fall last week as well. At about $2,400/FEU and $3,500/FEU to the West and East Coasts respectively, prices are already 18% below their 2024 lows. In addition to the alliance reshuffle, the current rate weakness on these lanes may also point to fleet growth driven overcapacity first seen in collapsing rates in 2023 but largely held at bay since early last year by Red Sea diversions absorbing capacity.
- The expected demand drop when frontloading ends and analyses that – despite the current global benchmark rate still more than 70% higher than in 2019 due to the Red Sea crisis – the market will become oversupplied even if diversions continue may be reflected in reports of transpacific ocean contracts negotiations trending toward rates lower than carriers had hoped.

Mar 20 - Air rates - Freightos Air index

- China - N. America weekly prices increased 10% to $5.06/kg.
- China - N. Europe weekly prices increased 28% to $3.87/kg.
- N. Europe - N. America weekly prices increased 3% to $2.43/kg.

- In air cargo, Freightos Air Index ex-China rates rebounded somewhat last week to above $5.00/kg to the US and to more than $3.80/kg to Europe despite some indications that e-commerce demand to North America has started to ease. Transatlantic rates of $2.43/kg last week were 15% higher than at the start of the year, possibly pointing to some frontloading ahead of expected US tariff increases on European trading partners.

Mar 20 - China's soybean imports from US jump 84% in first two months
China's soybean imports from the United States jumped 84.1% in the first two months of 2025 compared with a year ago, but competitive pricing and a trade standoff with the U.S. is expected to boost purchases from Brazil in the months ahead.

Mar 20 - Russia's February seaborne grain exports down 52.3% to 2.4 million tons
Russia's seaborne grain exports dropped by 52.3% year-on-year in February to 2.4 million metric tons, shipping data from industry sources showed on Wednesday. Russia shipped grain to global markets at a record pace in the first part of the 2024/25 marketing season, which began on July 1 last year, but a February export quota and bad weather at ports led to a sharp decline in exports.

Mar 19  - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market remains low this week. Owners have to adjust freight to traders' needs to keep business going. And the present exchange rate of Turkish Lira and Russian Ruble vs US dollar are not favoring trade at all. Today's news on opening wheat imports under the Inward Processing Regime in Turkey yet to show its effect on the market.

BALTIC SEA: The Baltic basin and Continent markets are firm and seem to firm up further before Easter.

CASPIAN SEA: The upcoming holidays in Iran could significantly slow down the already difficult situation with the export of goods. The next two weeks could prove particularly challenging, as most Iranian importers will be on holiday, leading to a slowdown in activity. Export from Kazakhstan remains steady, despite big congestion at Aktau port, owners are ready to wait about 2-3 weeks for loading.

FAR EAST: The market remains steady.

Mar 19 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Traded freight
Automotive logistics (dump trucks):
· Cherkasy region. - Odessa (March-April) @580 UAH/t including VAT

- AUTOMOTIVE LOGISTICS
As of March 17, the volume of exports by road amounted to 179.8 thousand tons, which is 2.6% more than in the same period in February. Almost all checkpoints recorded growth of agricultural exports. At the Moldovan and Romanian borders, this figure increased by 7% and 4% - to 26.3 thousand tons and 45.1 thousand tons, respectively. Moderate growth was observed at the Polish and Hungarian crossings, where the volume of exports reached 75.8 thousand tons and 21.2 thousand tons.
At the same time, the Slovak border recorded a slight decrease - to 11.4 thousand tons.
The main export goods for the corresponding period were sunflower oil - 20.1 thousand tons and sugar - 15.2 thousand tons.
Prices for transportation by road on domestic routes have suffered a slight decrease in the range of 1-2$, while the rates for European routes have increased by 2-5 euros, depending on the direction.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @110-137€
· Ternopil region - center. Bulgaria @85-115€
· Cherkasy region. - Pd. Romania @115-125€

- RAILWAY LOGISTICS
Rail freight rates for grains and oilseeds remain consistently low, due to several factors. Despite the onset of the spring period, the demand for transportation remains limited due to lower export volumes and stable prices for products. In addition, competition with other modes of transport, in particular road transport, continues to affect demand. An additional factor is the reduction of internal displacement of grain due to the completion of the active phase of the sales season.
It is expected that in the coming weeks, rates may increase slightly as a result of increased transportation due to the preparation for a new harvest. At the same time, the situation may change in the case of an increase in export demand or restrictions in the work of alternative logistics routes, which will cause the redistribution of cargo flows. However, significant changes in the market should be expected only with the beginning of the peak season, when the growth of traffic will increase competition for transport capacity.

- WATER LOGISTICS
The shipping market from the ports of Greater Odessa and the Danube remains stable, without changes in freight rates for the week. The presence of a large number of free ships, combined with a shortage of stable cargo flows, continues to restrain the growth of rates, which creates favorable conditions for charterers.
The cost of transportation by hendisayzamy from the Black Sea to Italy is $ 16-17 / t to Spain - $ 17-19 / t. Freight rates on coasters from Ismail to Italy - 30-32 $/t.
General market dynamics indicates the preservation of the current situation. Excess tonnage and limited cargo traffic may further hinder the growth of freight rates.

Mar 19 - China's January aluminium imports fall 24.3% y/y to 290,000 tons
China's imports of unwrought aluminium and aluminium products in January fell 24.3% year-on-year to 290,000 metric tons, according to data from the General Administration of Customs on Tuesday. The year-on-year reduction is due to the import window's closure since the latter half of 2024, traders have said.

Mar 19 - EU 2024/25 soybean imports up 7% by March 16, rapeseed up 15%
European Union soybean imports for the 2024/25 season, which began in July, had reached 9.6 million metric tons by March 16, up 7% from the same period a year earlier, according to data published by the European Commission. EU rapeseed imports in the same period totalled 4.75 million tons, up 15% year-on-year Meanwhile, soymeal imports were up 27% to 13.36 million tons.

Mar 18 - EU to look at import limits for aluminium sector, draft document shows
Concerns that the Trump administration’s metals tariffs could divert a wave of aluminium to Europe have prompted the European Commission to consider possible curbs on imports, a draft EU plan shows. The EU is also considering duties on its own exports of scrap metals to shore up the industry, according to the plan.

Mar 18 - Freeport Indonesia says has export permit for 1.27 million tons of copper concentrate
Freeport Indonesia has obtained a permit to export 1.27 million metric tons of copper concentrate, its spokesperson said. The Indonesian government had said on Monday it would issue Freeport a six-month export permit while a damaged smelter is repaired, which would also ensure that the state continued to receive royalty payments.

Mar 17 - China's customs denies reports it plans to slow inspections of imported coal
China's customs authorities have denied reports that they plan to go slow on inspections of imported coal, potentially leading to fewer imports. China's General Administration of Customs said in a Weibo post on Sunday that it was aware of reports online that customs inspections would be delayed from April 1, resulting in longer clearance times.

Mar 17 - US coffee industry asks Trump administration to exempt product from tariffs
The United States' National Coffee Association asked the Trump administration to exempt the product from any tariffs, saying the already adopted additional duties on Canada and Mexico could increase U.S. prices up to 50%.

Mar 14 - Brazil coffee exports fall in February on less competitive prices
Brazil's green coffee export volume fell 11.7% in February from a year earlier, industry group Cecafe said on Thursday, attributing the decline mainly to less competitive prices when compared to other producers such as Vietnam. Brazil, the world's top coffee producer and exporter, registered exports at 3 million 60-kg bags of green coffee last month, Cecafe said, with shipments of both arabica and robusta varieties falling in the period.

Mar 14 - Brazil trade chamber OKs import tax cuts on more food products
Brazil's trade chamber, known as Camex, has agreed to eliminate import taxes on certain products to curb food inflation, it said in a statement on Thursday. The decision was unanimous, Brazilian Vice President Geraldo Alckmin, who also serves as trade, industry and development minister, told reporters in Brasilia.

Mar 13 - French wheat exports forecast at new century-low after sluggish sales
Farm office FranceAgriMer on Wednesday cut its forecast of French soft wheat exports outside the European Union in 2024/25 to 3.2 million metric tons, down 69% on the previous season and marking a new low this century after a rain-hit crop. The office's forecast was down from 3.4 million projected in February, which was already the News Story volume for French non-EU soft wheat shipments in the office's records going back to 1996/97.

Mar 13 - Indian mills sign contracts to export 600,000 metric tons of sugar
Indian mills have contracts to export 600,000 metric tons of sugar in the 2024/25 marketing year ending in September, but are reluctant to sign further export deals as local prices have increased, five industry officials told Reuters. The slower pace of shipments from India, the world's second biggest sugar producer, will support global prices, which are trading near their lowest level in three years.

Mar 12  - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market has firmed up a bit over the week. Market players pay above 20 usd pmt fiost bss Yeisk for 3'k grain products (sf 54'). Still big delays in and out of Rostov due to ice.

BALTIC SEA: The Baltic sea basin is stable and firm.

CASPIAN SEA: The region is still experiencing difficult times, exacerbated by the approaching holidays in Iran. As a result, exporters are reducing their activities in search of new market opportunities. Meanwhile, in Kazakhstan, the market remains stable; however, long queues for loading and unloading persist at parking lots.

FAR EAST: The market remains stable. There has been a decline in grain shipments from Russia due to challenges in transporting cargo to the ports.

Mar 12 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
During the first 10 days of March, 103.9 thousand tons of agricultural products were exported by road transport, which is 4.8% more compared to the same period in February. The largest growth was recorded at the Moldovan border, where the volume of transportation increased by 10.1% - up to 14.6 thousand tons. At the Polish and Hungarian crossings, exports of agricultural products increased by 8.9% and 7.5% - up to 44.1 thousand tons and 13.3 thousand tons, respectively.
At the same time, the Slovak and Romanian borders recorded a decrease in the volume of road transport by 3.9% and 3.3% - up to 6.8 thousand tons and 24.9 thousand tons, respectively.
The main export goods during this period were sunflower oil (10.2 thousand tons) and sugar (7.9 thousand tons).
Prices for road transport within the country decreased by 2$ compared to the previous period, the cost of transportation in European directions remains stable.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @108-135€
· Ternopil region - center. Bulgaria @80-113€
· Cherkasy region. - Pd. Romania @115-123€

- RAILWAY LOGISTICS
For the first half of March, rail fares remain low, which is due to limited demand from customers.
Uncertainty in the market situation, fluctuations in demand and a general slowdown in trade activity affect the dynamics of transportation, which, in turn, reduces the need for rolling stock. The decrease in export-import operations and logistics risks force the company to revise its supply strategies, which leads to a lower intensity of freight traffic. At the same time, carriers are forced to keep part of their park in a simple, because the demand for cars remains insufficient for the effective use of all existing rolling stock.
The overall situation in the transportation market shows restrained business activity and low load of railway infrastructure, which may affect the further adjustment of rates in case of changes in demand.

- WATER LOGISTICS
Last week, freight rates from Danube ports increased by an average of $ 2/t. For the coasters running from Ismail to Italy, the stakes were 30-32 $/t. The growth of rates is due to an increase in the cost of passing river routes.
At the same time, freight rates from the ports of Greater Odessa remained unchanged. While there is still a shortage of freight offers on the market, a large number of free ships are holding back further growth rates from the Black Sea ports.

Mar 12 - Brazil's soy export forecast for March raised by more than 4% Brazil's soybean exports are expected to reach 15.45 million metric tons in March, up more than 4% compared with last week's forecast as the country continues to harvest its massive new crop, according to data from the grain exporters lobby Anec on Tuesday. The export figure still depends on confirmation of shipments scheduled through the end of the month.

Mar 12 - India's cotton imports to double as output falls short, says trade body
India's cotton imports in 2024/25 are likely to double from a year ago as production is set to fall below consumption because of a decline in acreage planted and adverse weather, a leading trade body said on Tuesday. Higher imports by the world's second-largest producer of the fibre could support global prices, which fell to their lowest in more than four years after top consumer China levied duties on imports from the United States.

Mar 11 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 25% to $2,659/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 16% to $3,754/FEU.
- Asia-North Europe prices (FBX11 Weekly) increased 3% to $3,064/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) stayed level at $4,159/FEU.

- Early last week President Trump rolled out 25% tariffs on all US imports from Mexico and Canada only to issue a one-month reprieve for automotive goods covered by the USMCA a day later and extend that suspension to all imports that fall under the USMCA by Thursday.
An estimated 50% of imports from Canada and 38% from Mexico fall under the USMCA and include automotive goods, food and agricultural products and many appliances and electronics. But that leaves about $1 billion worth of imports per day that fall outside the USMCA and do not face tariffs – and other goods that pay low level tariffs – that are now subject to the 25% hike. This category includes items like phones, computers and medical equipment.
- This latest tariff see saw caused importers to pull forward cross-border shipments in February leading to congestion at border crossings, with the implementation and then suspension also disrupting surface volume flows from both Mexico and Canada.
- This latest start and stop once again shows President Trump using tariffs and other threats as leverage for his desired trade or other policy goals: border security promises by Mexico and Canada led to the initial tariff pause in February. And though the stated goal of these measures is to stem the flow of fentanyl and illegal immigration, part of last week’s reprieve was reportedly due to auto manufacturer pledges to shift some manufacturing from Canada and Mexico to the US.
Threats about China’s presence along the Panama Canal led to the recent sale of Hutchinson Ports, and the USTR’s proposed port call fee on Chinese-made vessels has already resulted in CMA CGM pledging to invest $20 billion in the US, including some shipbuilding.
- Rapidly approaching deadlines for new tariffs or trade barriers include March 24th for the USTR hearing that will inform a decision on the port call fees, April 1st when agencies will issue reports on the range of trade issues requested in the president’s America First Trade Policy memo – including Trump’s proposed 60% tariff on all Chinese goods and after which reciprocal tariffs are likely to follow – and now an April 2nd deadline for 25% tariffs on USMCA goods.
- But last week’s roll out and suspension adds to the pervasive state of uncertainty for logistics and supply chains and makes planning and adjustments extremely difficult, with most shippers opting to wait and see before investing in significant changes to their supply chains. That being said, with the likelihood of some tariff increases for imports from China and other US trade partners still high, many US importers have been frontloading shipments to some extent since November boosting ocean demand and freight rates.
The latest National Retail Federation US ocean import report shows that volumes from November through February were about 12% higher than a year prior, suggesting a significant pull forward ahead of expected tariffs. Volumes that are projected to remain level and strong through May, are expected to weaken in June and July, likewise implying weaker demand in what is normally the start of peak season due to the pull forward since late last year.
 
- Though these projections have March volumes down from January levels but about on par with those in November and December, transpacific container rates have continued to slide post-Lunar New Year. Prices to the West Coast were down to $2,660/FEU and were at $3,754/FEU to the East Coast last week. These rates are 40% lower than a year ago and at or just below the low for the 2024 seen post-LNY last year.
- Ocean prices for Asia - Europe trade also dipped below last year’s low in recent weeks. Start of March GRIs slowed the slide and pushed rates back up by a couple hundred dollars, though well short of the $1,000 increase carriers had announced. Asia - Mediterranean prices also leveled off, and are about even with rates a year ago.
- In addition to some post-LNY lull in demand, recent rate weakness, perhaps especially on the transpacific, may be due to the recent carrier alliance reshuffle which is resulting in increased competition and less effective capacity management as carriers are still moving vessels into place for the newly launched services. Though transatlantic rates have been about flat this year, some carriers have announced April GRIs. Prices across these lanes are nonetheless about double the long term average as Red Sea diversions continue.

Mar 11 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices fell 7% to $4.61/kg.
- China - N. Europe weekly prices decreased 7% to $3.02/kg.
- N. Europe - N. America weekly prices stayed level at $2.37/kg.

- In air cargo, a one-day labor strike led to widespread flight cancelations in Germany on Monday. More broadly, US Customs and Border Protection has been charged with developing by April 1st a solution to handle the surge of formal entry parcels expected once the government suspends de minimis eligibility for Chinese imports. The lack of this capability was a main reason de minimis for Chinese goods was quickly restored after being suspended by executive order back in February, though many are skeptical a solution can be developed in such a short timeframe.
- Meanwhile, there are already signs that China - US e-commerce air cargo volumes – largely dependent on de minimis – are easing and likely shifting to ocean logistics and domestic fulfillment. In addition to reports of canceled charter flights, Freightos Air Index China - US rates dipped to $4.61/kg last week, 40% lower than at the start of the year suggesting a gradual easing of demand on the lane. Asia - Europe prices are at about $3.00/kg.

Mar 11 - Outflows of Indian aluminium boost share of Russian metal in LME warehouses   
The share of available aluminium stocks of Russian origin in warehouses registered with the London Metal Exchange rose to 75% in February from 67% in January, while the share for Indian origin fell to 24% from 31%, LME data showed on Monday. The aluminium stored in LME-registered warehouses in Port Klang, Malaysia, is mostly of Indian origin, according to traders, and is wanted by Western consumers, many of which have refused to buy metal produced in Russia since it invaded Ukraine nearly three years ago.

Mar 11 - Russian wheat export prices fall for a second week   
Russian wheat export prices continued to decline for the second week in a row, but they have yet to regain competitiveness against European grains, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board delivery in early April dropped by $1 to $247 a metric ton, said Dmitry Rylko, head of consultancy IKAR.

Mar 10 - India allows exports of broken rice to cut stockpiles
India allowed the export of 100% broken rice, the government said in a notification late on Friday, after inventories reached a record high at the start of February, nearly nine times the government's target. Exports of 100% broken rice could help reduce stocks in the world's biggest exporter and enable poor African countries to secure the grain at lower prices, as well as support Asian animal feed and ethanol producers that rely on the grade.

Mar 10 - Chinese rapeseed meal, oil contracts surge after 100% tariffs on Canadian imports
Zhengzhou rapeseed meal and oil contracts jumped, the first day of trade since China decided to impose 100% tariffs on imports of those products from Canada. The most-active rapeseed meal futures on the Zhengzhou exchange climbed 6% to 2,611 yuan per metric ton - the biggest daily rise since September 2022.

Mar 07 - Egypt's new military-run grain buyer pushing up local prices, traders say
Egypt's decision to shift its wheat import programme to a military-affiliated entity around four months ago has been anything but smooth as local prices climb and stock levels fall, traders in the country said. Egypt, one of the world's largest wheat importers, previously relied on the General Authority for Supply Commodities (GASC) to conduct large-scale international tenders, securing supplies with long-standing financing agreements.

Mar 07 - Conveyor belt collapses at Brazil grain terminal operated by ADM, Viterra
A conveyor belt system collapsed at a grain terminal at the port of Barcarena in northern Brazil, according to a navigation sector source and a soybean analyst on Thursday. The collapse caused grain shipments to be suspended, the two sources said naming ADM and Viterra as responsible for operating the terminal.

Mar 06 - Shipping firms pull back from Hong Kong to skirt US-China risks
Some shipping companies are discreetly moving operations out of Hong Kong and taking vessels off its flag registry. Others are making contingency plans to do so. Behind these low-profile moves, six shipping executives said, lie concerns that their ships could be commandeered by Chinese authorities or hit with U.S. sanctions in a conflict between Beijing and Washington.

Mar 06 - Jordan buys about 100,000 metric tons feed barley in tender, traders say
Jordan's state grain buyer has purchased about 100,000 metric tons of animal feed barley in an international tender on Wednesday, European traders said. It was said to have been bought from trading house Ameropa at an estimated $230.50 a ton cost and freight (c&f) included for shipment in the first and second half of July.

Mar 05 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 18% to $3,558/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 21% to $4,490/FEU.
- Asia-North Europe prices (FBX11 Weekly) increased 1% to $2,973/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 1% to $4,177/FEU.

- President Trump – after a one month postponement – introduced 25% tariffs on all Mexican and Canadian imports to the US and added another 10% tariff increase on Chinese goods on Tuesday. The Commerce Secretary stated later in the day that negotiations are ongoing and could result in some reduction of or exceptions to these tariffs by late Wednesday, with a one-month exemption for automakers announced by mid-day.
- Goods from China, Mexico and Canada made up about 40% of total US imports by value in 2024. Consensus among shippers, forwarders and carriers at this week’s TPM conference was that though these trade barriers will drive more diversification of US sourcing partners – the session on best practices for importing from India was packed – these steps will first and foremost be felt as higher costs for importers and likely higher prices for consumers. The tariffs will also hurt US exporters as Canada and China have already announced retaliatory actions and Mexico will reveal its countermeasures on Sunday.
- Many shippers had been frontloading imports from China since the election in anticipation of Trump tariff increases. The president’s proposed 60% tariffs on Chinese goods could go into effect as soon as April – as could a wider application of reciprocal tariffs on numerous countries – meaning the window to receive goods before then is about closed. And duties now at 20% across the board for Chinese imports – tariffs introduced on a broad but specific list of Chinese goods in 2018 reached a maximum level of about 25% – is likely already enough of an incentive to slow the pace if not end the pull forward seen in the last few months.
- The combination of a seasonal slump in demand and the possible end of frontloading likely drove the sharp fall in transpacific ocean rates last week. Daily prices this week are already below $3,000/FEU to the West Coast and $4,000/FEU to the East Coast matching the post-Lunar New Year lows hit in April of last year. If frontloading of the past few months was significant enough, we could also expect to see subdued peak season demand and rates as a result. Likewise, tariffs driving up inflation and negatively impacting consumer spending could also push down demand for ocean freight in H2.
- But the USTR’s proposal for port call fees for Chinese-made vessels, which could go into effect as early as April too, was another big topic of discussion at this week’s TPM, and a factor that would put upward pressure on rates into the US. MSC CEO Soren Toft noted that not only will the proposed fees for each US port call mean hundreds of dollars per FEU in costs passed on to shippers – and possibly make transatlantic lanes serviced by smaller vessels uneconomical – they will also drive carriers to omit calls at smaller ports, leading to lower volumes at these ports and possible congestion and delays as more containers are routed through the major hubs.
- Rates from Asia to Europe and the Mediterranean were about level last week and about even with post-LNY prices last year. March GRIs have so far been ineffective despite some significant congestion at both origins and destination hubs for these lanes. Some carriers are reportedly reducing transpacific and Asia - Europe capacity to try and stop the recent rate slide.
- Though the 25% tariffs on Canada and Mexico are in effect and will likely stay in place in some form in the near term, de minimis eligibility for low value imports from those countries – which was meant to be suspended along with tariff introductions – will remain in place for now.
US de minimis eligibility for Chinese goods – a major driver of the surge of e-commerce goods moving by air from China to the US since mid-2023 – likewise has remained in place despite initially being suspended by the executive order that also introduced the first 10% tariff hike on China in early February.
Expectations that de minimis will eventually be canceled for Chinese imports is already leading to reports of canceled charters and a shift to ocean freight.

Mar 05 - Weekly Air rates - Freightos Air index

- China - North America weekly prices fell 3% to $4.95/kg.
- China - North Europe weekly prices increased 2% to $3.26/kg.
- N. Europe - N. America weekly prices increased 1% to $2.38/kg.

Freightos Air Index China - US rates have dipped to less than $5.00/kg compared to about $6.00/kg a year ago suggesting some easing of demand. This level remains significantly elevated compared to the long term average though, reflecting that a big drop in volumes or release of capacity into the market has yet to materialize.

Mar 05 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In February, there was an increase in the volume of agricultural exports by road at all borders. The total export index increased to 293.7 thousand tons, which is 19.8% more than in January.
The leader in the gap of agricultural products for the corresponding month was the Polish border, where exports amounted to 125 thousand tons, which is 17.1% more over the past month. At the Romanian and Moldovan transitions, the figure rose to 71.6 thousand tons and 45.8 thousand tons, which is 22.4% and 36.6% more, respectively. In February, the smallest volume of agricultural exports was observed in the Hungarian and Slovak directions, where the indicator was 33.9 thousand tons and 17.4 thousand tons, which is 14.6% and 3.4% more.
The main export goods for the month were sunflower oil - 37.7 thousand tons, and for poultry - 21.5 thousand tons.
Rates for transportation by road on domestic routes have not changed, prices for European routes have increased by 1-3 euros, depending on the direction.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @108-135€
· Ternopil region - center. Bulgaria @80-113€
· Cherkasy region. - Pd. Romania @115-123€

- RAILWAY LOGISTICS
As of February 27, almost all border crossings recorded a decrease in the average daily transfer of wagons with grain. In the Romanian direction, the volume of transmission is currently minimal: for 26 days in February, exports decreased by 46% compared to the same period in January - up to 4.5 scales/day. At the Polish and Hungarian borders, the figure decreased by 34% and 29% to 25.7 weights/day. Only at the Slovak border was positive dynamics: the transfer of cars increased by 47% - up to 34.6 scales/day.
The total average daily transmission of grain cargoes and meal decreased by 4% compared to January - up to 172 weights per day.
For a week, the average daily volume of unloading wagons in the ports of Greater Odessa remained almost unchanged - 1,246 weights per day. At the same time, the number of wagons with grain going to the ports has decreased slightly - up to 4,950 units.
The accumulation of grain wagons in the direction of the Danube ports increased by 21.6% - up to 141 units. The average daily discharge rate decreased by 12.8% - up to 34 scales/day.
The cost of rail transport within the country decreased by 2-3$ depending on the direction. Due to the reduced demand level, a significant number of wagons of carriers remain unloaded and idle.

- WATER LOGISTICS
After a long period of stability, freight rates in the Danube and Black Sea ports increased by 1-2 $/t. One of the reasons for the increase in the cost of transportation was the increase in the cost of river routes and longer simpler ships in certain areas. In particular, the rates for coasters from Ismail to Italy increased to 28-30 $/t. Freight rates for the Black Sea ports were raised to 16-17 $/t in the direction of Italy and to 17-19 $/t in the direction of Spain.

Mar 05  - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The water levels in the Azov Sea basin remain largely unchanged. Vessels are experiencing extensive delays at Kerch, waiting for up to 5 to 7 days because of weather conditions. Access to Rostov and Azov is limited to icebreaker convoys due to icy conditions. There are no significant indicators suggesting any market changes in the near future.

BALTIC SEA: The market is steady.

CASPIAN SEA: The market is experiencing significant pressure, with freight rates continuing to decline. There is hardly any cargo from Astrakhan and Makhachkala available in the market. Ship owners are opting to lay up their vessels or send them for repairs instead. In Kazakhstan, the situation is relatively stable, with barley exports ongoing. However, there are still lengthy queues at the roadsteads for loading.

FAR EAST: The market remains stable.

Mar 05 - China targets US soybeans, lumber in stepped-up response to Trump tariffs
China suspended on Tuesday the soybean import licences of three U.S. firms and halted imports of U.S. logs, stepping up its retaliation for additional U.S. tariffs on Chinese goods. Earlier in the day, China also imposed import levies covering $21 billion worth of U.S. agricultural and food products including soybeans, wheat, meat and cotton.

Mar 05 - BlackRock to buy Hong Kong firm's Panama Canal port stake amid Trump pressure
An investor group backed by BlackRock agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a U.S. firm control of key docks amid pressure from the White House to take them from China. The $22.8 billion sale by Hong Kong's CK Hutchison to U.S. and Swiss investors also includes dozens of ports in other countries, the companies announced Tuesday.

Mar 04 - Argentina's grains export revenue jumps 45% in FebruaryArgentina's farm sector brought in a total $2.18 billion through exports in February, a 45% increase compared to the same month a year earlier, the CIARA-CEC chamber of oilseed and grains crushers and exporters said on Monday. The boost in export revenue was thanks to a presidential decree in late January that temporarily reduced grain export taxes, CIARA-CEC said.

Mar 04 - Trump trade threats compound global ocean shipping uncertainty
The global ocean shipping industry that handles 80% of world trade is navigating a sea of unknowns as U.S. President Donald Trump stokes trade and geopolitical tensions with historical foes as well as neighbors and allies. That is the backdrop for this week's S&P Global TPM container shipping and supply chain conference in Long Beach, California, an annual event that marks the start of container shipping contract negotiating season.

Mar 03 - Rio Tinto resumes operations at Western Australia's Dampier port after five weeks
Rio Tinto said that its iron ore export facility in Western Australia's Dampier port resumed operations after being offline for over five weeks due to flooding from tropical cyclones. "A railcar dumper at the East Intercourse Island (EII) port facility was flooded when Tropical Cyclone Sean delivered record rain... Dumper operation at EII resumed last week and the first ship was loaded today," Rio said in a statement.

Mar 03 - South Korea’s MFG bought around 65,000 metric tons U.S. feed wheat
South Korea's Major Feedmill Group (MFG) purchased about 65,000 metric tons of animal feed wheat expected to be sourced from the United States in a private deal on Friday without issuing an international tender, European traders said. One consignment was purchased at an estimated $265.68 a ton cost and freight included (c&f) plus a $1.50 a ton surcharge for additional port unloading.

Feb 28 - Russia's IKAR warns grain exporters on strong rouble, trims forecasts
Russia's IKAR consultancy warned about the potential impact of the rouble rally on grain exporters' margins on Thursday and trimmed its forecasts for wheat production in 2025 and wheat exports in the current season. The Russian currency has gained about 23% against the dollar and 13% against the yuan this year, mostly on expectations of better relations with the United States and a peaceful settlement in Ukraine.

Feb 28 - South Korea’s NOFI buys estimated 133,000 T corn, traders say
Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 133,000 metric tons of animal feed corn in an international tender on Thursday, European traders said. The corn can be sourced optionally from the United States, South America or South Africa and was bought in two consignments.

Feb 27 - Brazil judge rejects traders' request to halt grain export tax
A Brazilian judge has thrown out a request by global grain traders to halt enforcement of a law that imposes a 1.8% tax on the export of grains such as soybeans and corn from the state of Maranhao, according to the decision seen by Reuters. Abiove, a lobby group representing grains exporters, which hoped to get an injunction against the charge, argued the state law was unconstitutional in a case filed last week.

Feb 27 - South Korea’s FLC buys up to 68,000 T corn from United States
South Korea's Feed Leaders Committee (FLC) purchased about 65,000 to 68,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said. The corn was purchased partly at an estimated outright price of $257.69 a ton cost and freight (c&f) plus a $1.50 a ton surcharge for additional port unloading, and partly at a premium of 162.50 U.S. cents a bushel c&f over Chicago May corn futures, they said.

Feb 26 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
From February 1 to February 24, the volume of agricultural exports by road amounted to 248.4 thousand tons, which is 41.6% more compared to the same period in January. An increase in agricultural products was observed at all borders. The largest growth was recorded at the Moldovan and Romanian borders, where exports of agricultural products increased by 60% and 47.3% - up to 36.5 thousand tons and 61.3 thousand tons, respectively. At the Hungarian and Polish checkpoints, agricultural exports increased by 43.2% and 35.8% to 29.4 thousand tons and 106 thousand tons.
The smallest increase was recorded at the Slovak border, where in 24 days of February the volume of exports of agricultural products increased by 22.3% - up to 15.1 thousand tons.
The leaders of exports for the corresponding period are sunflower oil (31.2 thousand tons), and poultry meat (18.7 thousand tons).
The cost of road transport within the country decreased by 2-4$ depending on the direction, prices for European routes retain their level.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @106-133€
· Ternopil region - center. Bulgaria @79-111€
· Cherkasy region. - Pd. Romania @113-121€

- RAILWAY LOGISTICS
The cost of transportation of grain cargoes by rail inside the country towards the western border and sea ports decreased compared to the previous week. The main factors of this were the decline in demand for transportation and the reduction in the volume of grain cargo transmission through border crossings.
Despite the changes in the domestic market, the rates for grain transportation by rail to Europe remained stable. This is due to the presence of long-term contracts that smooth short-term fluctuations in the market.
The cost of grain delivery from the western border of Ukraine to Italy ranges from 35-40 €/t for the old crop and 45-50 €/t for the new one. Transportation of grain to Germany from the old harvest costs 33 €/t, and to the Netherlands - 40 €/t. On average, the difference between the rates for the old and the new crop is 5-10 €/t depending on the destination country.

- WATER LOGISTICS
The maritime market remains stable, although the fight between transportation customers and shipowners continues. Shippers insist on further reduction of rates, referring to a lack of stable cargo and an excess of free tonnage. Instead, the owners of the fleet resist, arguing that the tariffs are already at a minimum level.

Feb 26  - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market is still low but there has been a bit of activity among the traders for the last several days. Air temperatures are expected to rise soon so no new ice should form in Azov / Rostov in the near future.

BALTIC SEA: The Baltic sea market is stable. There is a balance in tonnage and available cargoes.

CASPIAN SEA: At the moment, the ports in Astrakhan and Makhachkala are unable to offer alternative cargoes, as most of them are focused on receiving cargoes from Iran. Kazakhstan is still exporting barley, and in the short term, we expect longer wait time due to profit of the vessels.

FAR EAST: The market looks solid, with minor fluctuations

Feb 26 - EU 2024/25 soft wheat exports down 36% by February 23
European Union soft wheat exports since the start of the 2024/25 season in July had reached 13.65 million metric tons by February 23, compared with 13.33 million tons the previous week and down 36% from a year earlier, European Commission data showed on Tuesday. EU barley exports totalled 3.16 million tons, compared with 3.06 million tons a week earlier and down 19% from the corresponding period of 2023/24.

Feb 26 - India could extend import curbs on steelmaking raw material, sources say
India could extend restrictions on low-ash metallurgical or met coke imports to encourage local steel mills to source the steelmaking ingredient from domestic suppliers, two sources said. In December, India, the world's second-biggest producer of crude steel, imposed quantitative curbs with country-specific quotas on imports of low-ash met coke, restricting total overseas purchases to 1.4 million metric tons from January until the end of June.

Feb 25 - Argentina loosens regulations on transit along key grains transport riverArgentina loosened safety regulations on shipments traveling on a river that is a key grains transport corridor, a move which could boost cargo moved through the waterway by up to 7%, the nation's security minister said on Monday. Ships traveling along the Parana-Paraguay waterway will now be able to carry more cargo, Security Minister Patricia Bullrich said on social media website X, adding it would make firms more efficient and reduce costs but without affecting safety.

Feb 25 - Data shows slower pace of Brazil soybean exports in February
The pace of soybean exports from Brazil during the first three weeks of February is 29% below the daily average compared to the same month last year, totaling 246,500 metric tons per day, official data showed on Monday. Brazil is the world's top soybean exporter.

Feb 24 - Grain traders challenge new export tax in Brazil court
The Brazilian state of Maranhao on Friday defended its new law imposing a 1.8% levy on grain exports after an industry lobby representing large global traders launched a legal challenge against the tax. Under the new law, which will take effect next week, an export tax will be charged on shipments of grains such as soybeans, corn, sorghum and millet.

Feb 24 - Algeria issues wheat tender for two ports, traders say
Algeria's state grains agency OAIC has issued an international tender to buy milling wheat for shipment to the small ports of Mostaganem and/or Tenes, traders said on Sunday. The tender sought shipment between April 1 and June 30 for main supply origins including Europe, with any wheat from South America or Australia to be shipped one month earlier. The deadline for bids is on Tuesday.

Feb 21 - Taiwan buys estimated 102,450 T wheat of US-origin, traders say
The Taiwan Flour Millers' Association purchased an estimated 102,450 metric tons of milling wheat to be sourced from the United States in a tender on Thursday, European traders said. The purchase involved various wheat types for shipment from the U.S. Pacific Northwest coast.

Feb 21 - Ivory Coast set to hold meeting to avoid cocoa contract delays
Ivory Coast's Coffee and Cocoa Council (CCC) will call a meeting with exporters over the next ten days to prevent them from having to carry main crop contracts into the upcoming mid-crop or the next season, sources from the CCC and exporters said. This arbitration, which usually occurs before the end of the October-to-March main crop, aims to prevent traders from having to postpone contracts, something that can lead to the CCC having to pay out costly compensation.

Feb 20 - Brazil's No.1 coffee exporter sees smaller trading volumes in 2025
Brazilian coffee co-op Cooxupe, the country's largest exporter of the beans, projects that it will receive nearly 10% less coffee from farmers in 2025 compared with last year, or around 5.6 million 60-kg bags. Cooxupe's President Carlos Augusto Rodrigues de Melo told Reuters at the co-op's headquarters in Guaxupe that the dry, hot weather last year will cut coffee production in the areas where it operates in Minas Gerais and Sao Paulo states, despite better crop care applied by farmers.

Feb 20 - Jordan issues tender to buy up to 120,000 T wheat, traders say
Jordan's state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins, European traders said on Wednesday. The deadline for submission of price offers in the tender is Feb. 25.

Feb 20 - Bab el-Mandeb Strait Maritime Traffic Sees Significant Downturn
by Andreas Exarheas: Rigzone Staff

'LNG and LPG carriers have shown the most severe impact', Dryad Global said.

In an analysis posted on its website earlier this month, Dryad Global said maritime traffic through the Bab el-Mandeb Strait “has experienced a significant downturn following the series of Houthi attacks”.

“Before the attacks started in November 2023, the strait saw an average of approximately 459 cargo-carrying vessels over 10,000 deadweight tonnage (dwt) per week,” Dryad noted in the analysis.

“However, current data reflects a stark reduction, with only 252 transits recorded, marking a 48 percent decrease,” it added.

“Analyzing by vessel type, bulk carriers have seen the most dramatic decline, dropping from an average of 540 transits per week to just 79, an 85 percent reduction. Crude oil tankers have also decreased, from 78 transits to 45, indicating a 42 percent fall,” it continued.

“Product tankers, with specifics less detailed pre-attack, are now averaging 43 transits per week. Containerships have plummeted by 70 percent, from a ‘normal’ average of 130 transits to only 40. General cargo ships have decreased by 24 percent,” Dryad went on to state.

The company noted in the analysis that LNG and LPG carriers “have shown the most severe impact”.

“No LNG carriers have transited since mid-March 2024, with LPG carrier traffic dropping by 92 percent,” Dryad said.

Dryad also stated in the analysis that the total deadweight tonnage of vessels passing through the strait had “fallen by 67 percent by March 2024, suggesting not only fewer ships but potentially smaller vessels or reduced cargo loads”.

The traffic through this region has not recovered since March of 2024, Dryad noted in the analysis.

“This situation underscores the broader economic implications, including increased shipping times and costs due to rerouting around Africa via the Cape of Good Hope,” Dryad said.

“The ongoing instability in the region has led to a rise in insurance premiums for ships transiting the Red Sea, reflecting the heightened risk,” it added.

“Despite some reduction in attack frequency, the shipping industry remains cautious, preferring longer but safer routes. This shift has been integrated into current economic models, and without a significant improvement in regional security, the return to pre-attack transit levels seems improbable in the near future,” it continued.

“The strategic reassessment of shipping routes, coupled with the unpredictability of the situation, indicates a sustained avoidance of the Bab el-Mandeb Strait by commercial vessels until stability can be assured,” Dryad went on to state.

When Rigzone asked Dryad CEO Corey Ranslem if we could see the Red Sea open up in 2025, Ranslem told Rigzone that “there is a probability that we could see the level of attacks [in the region] remain where they are now, which could lower the threat level”.

Ranslem added, however, that “there are a number of things that could also change this current situation quickly”.

“The biggest is the ceasefire between Israel and Hamas. If the ceasefire holds, we could potentially see a return to safer operations within the Red Sea region,” he added.

Ranslem told Rigzone that another issue to consider for a return of shipping traffic to this region is the Joint War Risks Committee (JWRC) designation.

The International Underwriting Association of London, which describes itself as the representative body for companies in London providing international and wholesale insurance and reinsurance coverage, notes on its site that “the London market’s Joint War Committee publishes a list of areas of perceived enhanced risk in relation to hull war, strikes, terrorism and related perils”.

“If that designation remains in place, there is a substantial insurance cost for vessels transiting this region,” Ranslem told Rigzone.

“Even if the threat level goes down substantially, we could still see vessels take the longer route around the Horn of Africa purely for insurance reasons,” Ranslem added.

Dryad Global offers a comprehensive suite of maritime intelligence and Cyber solutions, the company’s website notes. The site highlights that Ranslem has 27 years of experience in the public and private sector working with ports, cargo lines, cruise lines, and large yachts. Ranslem is a veteran of the U.S. Coast Guard and is a recognized expert in U.S. Federal Court in maritime security, the site states.

Feb 19 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
As of 17.02, the volume of agricultural exports by road amounted to 175.3 thousand tons, which is 57.6% more compared to the same date in January. The largest increase was recorded at the Moldovan border, where the volume of exports increased by 78.4% compared to the first month of the year and reached 24.7 thousand tons. At the Romanian, Hungarian and Slovak border crossings agroexport increased by 62-65%. In absolute terms, the volume of transportation across the Romanian border increased to 43.4 thousand tons, through Hungarian - up to 21.1 thousand tons, and through Slovak - up to 11.5 thousand tons. At the Polish border, the export of agricultural products increased by 45.8%, to 74.7 thousand tons.
Leaders of exports are sunflower oil (21.9 thousand tons), and poultry meat (13.6 thousand tons).
Domestic transportation rates remained unchanged, while international transportation prices were also slightly higher.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @106-133€
· Ternopil region - center. Bulgaria @79-111€
· Cherkasy region. - Pd. Romania @113-121€

- RAILWAY LOGISTICS
During the first half of February, the average daily transfer of wagons with grain was recorded only at the Slovak border compared to the same period in January. During the relevant period, the indicator increased by 41.6% - up to 33.3 weights/day. At all other transitions there was a decrease in the transmission of cars. The largest percentage decrease occurred at the Romanian border, where the volume of transmission of wagons with grain decreased by almost 53.5% - up to 4.3 scales/day. At the Polish and Hungarian crossings the figure decreased by 23.8% and 10.2% - to 29.7 weights/day and 32.5 weights/day, respectively.
The total average daily load transfer increased to 178 weights per day.
During the week, the number of wagons with grain moving towards the ports of Greater Odessa showed positive dynamics, increasing by almost 4% - up to 4,743 units. In turn, the average daily unloading of wagons decreased by almost 4.7% - up to 1,283 weights per day.
The accumulation of grain cars in the direction of the Danube ports decreased by 73.4% - up to 100 units. The average daily discharge rate decreased by 9% - up to 40 weights/day.
The cost of grain transportation to Europe depends on the country of destination and harvest. Transportation to Italy costs 35-40 €/t for the old crop and 45-50 €/t for the new one. Delivery of old grain to Germany is estimated at 33 €/t, and to the Netherlands - 40 €/t.

- WATER LOGISTICS
Freight rates for sea transportation from the ports of Greater Odessa and the Danube remained unchanged for a week. This is due to the reduction of exports by water transport due to the lack of new cargo. The lack of sufficient volume of transportation does not allow ship owners to raise rates, which increases the pressure on the shipping market.

Feb 19 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market is still low and almost no changes compared to last week. Some vessels have to wait in spot for several days to get the right cargo. It is difficult to find cargoes for OFAC sanctioned RSD 59 vessels.

BALTIC SEA: The Baltic basin market is firm. Ice restrictions implemented in the Russian Baltic ports.

FAR EAST: Despite the challenges posed by delays in cargo delivery to ports, the region's market seems to be stable.

CASPIAN SEA: The conditions in the basin are worsening. The introduced zero quota for corn and barley is adversely affecting operations in Russian ports and the basin
overall. There are only a limited number of alternative cargoes available from Astrakhan, though some options are starting to emerge. Many shipowners are shifting their focus to
trade with Kazakhstan, while others are opting to temporarily lay up their vessels instead of engaging in trade. Kazakhstan continues to export barley, and in the near term, we
anticipate longer queues due to the arrival of ships flying the Russian flag.

Feb 19 - Russian grain export volumes will be well below quotas in Feb-June, analysts say
Russian exporters will be able to deliver no more than 8.1 million tons of wheat by the end of the current 2024/25 season, well below their permitted quota, the head of analysis at grain shipment company Rusagrotrans said. This is not a final forecast - the volume of exports may be lower than 8.1 million tons, Igor Pavensky said.

Feb 19 - By the numbers: Breaking down the global soybean trade: Braun
A discussion about global soybean exports cannot proceed without mention of Brazil or the United States, because together they fuel 85% of total shipments each year. Likewise, "China" and "imports" are often synonymous in global soybean trade because the country accounts for more than 60% of annual imports.

Feb 18 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 3% to $4,763/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 4% to $6,398/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 7% to $3,162/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 2% to $4,448/FEU.

- Many importers, exporters and other businesses in the US are breathing another, though possibly temporary, tariff-related sigh of relief after learning that President Trump’s planned reciprocal tariffs won’t be introduced this week.
On Thursday, President Trump signed a memorandum instructing federal agencies to research and develop a comprehensive plan for reciprocal tariffs on countries with duties on US exports or other barriers to American businesses and trade.

- But the memo specifies that those investigations commence only after these agencies submit their findings on the state of American trade that the president requested in his wide-ranging inauguration day America First Trade Policy memo. With those trade reports – which could include support for President Trump's proposed 60% tariff on all Chinese goods – due on April 1st, reciprocal tariff actions can only come after that. Some experts are hopeful that this runway will provide time for US trading partners to lower their tariffs and avoid US reciprocation.

- But the threat of these tariff increases continues to impact global trade both by accelerating the shift of US sourcing away from targeted countries like China, and by pushing shippers to pull forward orders from those that could face tariff hikes soon, including Mexico.
For US ocean freight this frontloading remains apparent both in import container volume levels since the election and projections for the coming months, and in ocean rates that remain elevated – at about $5,000/FEU to the West Coast and $6,000/FEU to the East Coast – even as we enter the typical slow season for the transpacific container market.
In the absence of these tariff considerations, Asia - Europe and Mediterranean container rates are falling more significantly than on the transpacific post-Lunar New Year as demand eases.

- Asia - Europe rates have fallen nearly 45% since early January to about $3,000/FEU, its lowest level since the start of the Red Sea crisis, and daily rates to the Mediterranean are nearing the $4,000/FEU level. Carriers are increasing blanked sailings and have announced March 1st GRIs of about $1,000/FEU to attempt and push rates back up on these lanes, though there is skepticism that the increases will succeed.

Feb 18 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices fell 7% to $4.92/kg.
- China - N. Europe weekly prices fell 13% to $3.14/kg.
- N. Europe - N. America weekly prices fell 1% to $2.35/kg.

- Changes to trade policy are shaking up the air cargo market as well. President Trump suspended and then quickly reinstated de minimis eligibility for Chinese e-commerce imports to the US early this month. Chinese e-commerce giants like Temu and Shein largely rely on the savings and speed they realize by using the de minimis exemption to export low value goods by air cargo directly from China to US consumers.
- The looming cancellation of de minimis eligibility for Chinese imports is expected to significantly reduce the surge of e-commerce goods arriving in the US by air that have kept planes full and air cargo rates highly elevated since late 2023, and to increase delivery times and push price tags up by as much as 50% for items that continue to ship by air.
Temu and Shein had already begun preparations for a shift away from reliance on de minimis and air cargo, with more than a third of Temu’s US orders reportedly already fulfilled from sellers with US-based inventory. Nonetheless, these platforms are scrambling to adjust to the coming policy change by raising prices, pushing sellers to build up US inventories and incentivizing manufacturing shifts to Vietnam and other China alternatives.
- The temporary reprieve of the de minimis suspension for Chinese goods was aimed to allow US Customs and Border Protection to prepare for an anticipated surge of formal entry parcels, but it may also allow time for air cargo e-commerce import volumes to decrease to a more manageable level.
- There are already reports of e-commerce companies canceling freighter flights. And though China - US air cargo rates have yet to collapse, Freightos Air Index data shows they have decreased below the $5.00/kg mark for the first time since August of last year, and are 7% lower than a week prior though prices typically increase just after Lunar New Year. This trend may suggest that air rates could decline gradually up until de minimis is canceled and then more sharply once the change goes into effect.

Feb 18 - Taiwan’s MFIG tenders to buy up to 65,000 metric tons corn
Taiwan's MFIG purchasing group has issued an international tender to buy up to 65,000 metric tons of animal feed corn which can be sourced from the United States, Argentina, Brazil or South Africa, European traders said on Tuesday. The deadline for submission of price offers in the tender is Wednesday, Feb. 19, they said.

Feb 18 - Saudi Arabia buys about 920,000 metric tons of wheat in tender
Saudi Arabia's main state wheat buying agency, the General Food Security Authority (GFSA), has purchased about 920,000 metric tons of wheat in an international tender, it said on Monday. This was above the 595,000 tons from sought in the tender, it said.

Feb 17 - Brazil soy lobby tells growers to reject EU anti-deforestation rule in contracts
A powerful Brazilian soy grower lobby is recommending farmers reject the inclusion in soy purchase and sale contracts of the obligation to comply with the European Union anti-deforestation law, according to a statement on Friday. Europe's landmark legislation will ban the import of beef, soy and other goods linked to the destruction of forests after December 2020.

Feb 17 - Argentina agricultural exporters call for fresh tender in key transport river
Agricultural exporting firms in Argentina, one of the world's largest food suppliers, are urging the government to quickly re-do a tender process for a contract to maintain a key river route used to transport crops after the previous call fell apart this week. Argentina exports 80% of its grains through the Parana River waterway, a route currently dredged by Belgian firm Jan de Nul.

Feb 14 - Powerful Tropical Cyclone Zelia hits Australia's iron ore hub
Tropical Cyclone Zelia made landfall on Australia's west coast, the weather bureau said, lashing the world's largest iron ore hub with heavy rain and wind gusts up to 290 kph (180 mph). The eye of the storm crossed the coast east of Port Hedland just after 12 p.m. (0400 GMT) as a category five cyclone, the highest rating on the scale.

Feb 13 - Tropical cyclone forces closure of ports in Western Australia's Pilbara region
Western Australia's ports of Dampier and Varanus Island will be closed at 6 p.m. (1000 GMT) on Thursday due to Tropical Cyclone Zelia, the ports' operator said, with emergency services in the state warning of the potential for significant damage. Zelia, which has been upgraded to the strongest possible Category 5 storm, is due to make landfall on Friday in the remote Pilbara region, home to major ports used for commodities exports, Australia's Bureau of Meteorology (BOM) said.

Feb 13 - Argentina grains waterway tender falls apart as government launches probe
A controversial government tender to dredge Argentina's Parana River, a major grains shipping lane, fell apart on Wednesday with only one bidder taking part, leading authorities to launch an investigation into potential sabotage of the process. The South American country, the world's top exporter of soy oil and meal, and the No. 3 for corn, will hold a new tender after Belgium's DEME Group was the only firm to bid. 

Feb 12 - NITRO SHIPPING FREIGHT Weekly Report for Grains

AZOV SEA & BLACK SEA:Azov sea market is still low this week. Plenty of opening vessels are looking for right employment. Charterers are still not keen to pay higher
levels. Still charterers pay about 20-21 usd pmt fiost ex Rostov bb to Marmara bss usual 3'k wheat. 5-6'k wbp (sf abt 54") lots are paying usd 17-18 pmt fiost ex Yeisk to Marmara in prompt. Export quota implementation in several days did not make severe impact on the market so far. Eastern winds did hinder traffic in the Azov sea, seriously delaying the vessel movement due to the low water in almost all Azov basin ports. This week the situation improved a bit as the water is returning to normal levels.

BALTIC SEA: The Baltic sea market is firm this week. Especially Russian Baltic is active as market players expect EU import ban on more commodities like aluminium
and fertilizers.

CASPIAN SEA: The Caspian basin is still facing significant challenges. Several exporters have halted shipments from Russian ports, and there isn’t much enthusiasm
regarding the zero export quota. Many ship owners are opting to operate in Kazakh ports instead, where conditions are more stable. Kazakhstan is continuing to export barley from the ports of Aktau and Kuryk, and there are still strong expectations for ship placements in Aktau.

FAR EAST: The market is steady.

Feb 12 - Ukraine Weekly  Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
During the first 9 days of February, the volume of agricultural exports by road from Ukraine more than doubled compared to the same period in January, reaching 88.5 thousand tons.
The largest growth in absolute terms was recorded at the Polish and Romanian borders, where the volume of transportation amounted to 36.3 thousand tons and 23.2 thousand tons, respectively (against 22.2 thousand tons and 8.7 thousand tons in January). In the Hungarian and Moldovan directions, exports amounted to 11.2 thousand tons and 11.1 thousand tons (in January - 5.4 thousand tons and 4.5 thousand tons).
The lowest volumes were recorded at the Slovak checkpoint, where exports amounted to 6.6 thousand tons (in January - 2.8 thousand tons).
The main export goods for the corresponding period were sunflower oil - 10.3 thousand tons, and for poultry - 7.3 thousand tons.
The cost of transportation by road in domestic and international traffic has been increased compared to the previous period.

Market rates of tipper transport to Europe:
· Ternopil region - center. / Mon. Italy @105-132€
· Ternopil region - center. Bulgaria @78-110€
· Cherkasy region. - Pd. Romania @112-120€

- RAILWAY LOGISTICS
As of 10.02, the opposite situation was observed at the western borders compared to January. At the Slovak and Hungarian borders, the carriages increased by 69.6% and 2.4% to 39.9 weights per day and 37.1 weights per day, respectively. The Romanian and Polish borders showed negative dynamics. The corresponding indicator at the relevant border crossings decreased by 29.1% and 29% - to 6.5 weights/day and 27.6 weights/day.
The total average daily load transfer rate increased by almost 7% - up to 184 weights per day.
The number of wagons with grain moving towards the ports of Big Odessa decreased by 16.8% in a week - up to 4,567 wagons. The average daily unloading of wagons decreased by 5.8% - up to 1,346 weights per day. In the port of Izmail, the accumulation of wagons with grain decreased by 18.6% - to 215 units. The average daily discharge for the week decreased by 13.3% - up to 39 weights/day.
The beginning of February was marked by an increase in the cost of transportation by rail. Domestic transportation rates increased by $1-5 depending on the destination.

 - WATER LOGISTICS
A large supply of free ships due to the lack of new cargo and low freight rates continue to put pressure on the shipping market. During the week, there were observed minor fluctuations in the cost of freight on routes from the port of Odessa and the Danube ports.

Feb 12 - India's thermal coal imports seen falling for second straight year
India's thermal coal imports are expected to fall for the second straight year in 2025 due to decreasing dependence on coal for power generation, slowing economic activity and record high inventories, industry officials said this week. All six Indian and international coal traders Reuters spoke with at the Coaltrans India conference in New Delhi expected shipments of the fuel to decline this year.

Feb 12 - Is China ending its stint as major global grain importer? -Braun
China giveth, China taketh away. Agricultural exporters around the world know this feeling all too well, as they can either flourish or flounder under China’s sometimes unpredictable demand habits. Relative to use, Chinese corn and wheat stocks in 2024-25 are both set to reach the lowest levels in about a decade, though this is not translating into the opportunity one might expect for global grain suppliers.

Feb 11 - Australia iron ore hub Port Hedland clears vessels after weather warningThe operator of Australia's iron ore export hub Port Hedland said it had started clearing vessels from the port after a weather warning from the Bureau of Meteorology. A tropical low pressure weather system is expected to slowly move toward the south or southwest before heading southeast on Thursday or Friday, Pilbara Ports said in a statement.

Feb 11 - Dry season in Ivory Coast triggers cocoa shortage fears, farmers say
A lack of rain in most of Ivory Coast's cocoa-growing regions could delay the start of the April-to-September mid-crop, potentially leading to a shortage of beans, the main ingredient in chocolate, farmers said on Monday. The world's top cocoa producer is in the dry season that runs from mid-November to March when rains are scarce and poor, and farmers say it is very hot compared to last year.

Feb 10 - Brazil soy sales lag on high freight costs, traders' caution
The sale of Brazil's new soy crop has lagged, according to analysts on Friday, reflecting high freight costs, a stronger local currency and trading companies' extra caution to close purchases. Advance sales of Brazil's 2024/25 soybean crop hit 39.4% of total expected production, according to consultancy Safras & Mercado. This is above the 31.9% seen in the same period in 2024. But it is below the five-year average of 43.2%.

Feb 10 - Global wheat import demand dented by local output, economic woes
Global wheat imports are likely to drop this year as slowing economic growth among top buyers, a stronger greenback and higher local cereal output curb grain buying, putting pressure on prices despite world inventories headed for nine-year lows. Slower purchasing by top importers could put a cap on grain prices by offsetting concerns that unfavourable weather in the Black Sea region, the world's biggest exporting area, India and the United States will curtail output.

Feb 07 - Philippine rice buyers delay 350,000 tons of Vietnamese cargoes, sources say Rice importers in the Philippines have delayed purchases of around 350,000 metric tons of Vietnamese rice and have been renegotiating deals, after a steep decline in prices, two trade sources with direct knowledge said. Rice prices in key exporting countries have dropped to about two-year lows after India, by far the biggest supplier of the grain, eased restrictions on overseas sales last year following a bumper harvest.

Feb 07 - Japan seeks steel import tariff exemption from India, documents show
Japan has called on India to exempt it from any temporary tax aimed at curbing rising steel imports, according to a source and documents, arguing the move would crimp supplies of high-grade, speciality alloys that New Delhi needs. India, the world's second biggest crude steel producer, initiated an investigation in December to consider if it should impose a temporary tax, locally known as a safeguard duty, to curtail steel imports.

Feb 06 - Bottleneck at key Brazil grains transshipment facility clears
Operations at a large grain transshipment hub linking the heart of Brazil's farm country to the port of Santos have returned to normal after being disrupted by thousands of trucks unable to quickly unload grains, a truckers' transportation lobby told Reuters on Wednesday. Lines with as many as 3,500 trucks had formed at the Rondonopolis facility in Mato Grosso, which is operated by Rumo, according to a statement on Tuesday from ANATC, which represents 2.2 million truckers.

Feb 06 - Rabobank projects record soybean crop in Brazil in 2024/25
Rabobank on Wednesday joined several agribusiness consultancies in predicting that Brazil will harvest a record soybean crop in 2024/25, saying that output of the oilseed should total 170 million metric tons this season. That would be 15 million tons more than in 2023/24, when farmers in the world's largest soybean producer and exporter grappled with adverse weather conditions.

Feb 05 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market slowed down a bit over the week. Some traders are indeed trying to load the vessel before the 15th of February, but it does not support the market much. Charterers pay about 19-20 usd pmt fiost for 3'k wheat ex Rostov to Marmara in spot dates.

BALTIC SEA: The Baltic sea market is stable. There is a balance in fleet and cargoes in the region.

CASPIAN SEA: Recently, Iranian buyers have continued to drive down prices for products, worsening the strain on already low freight rates. At the same time, Kazakhstan is grappling with challenges in barley exports due to unfavorable weather, resulting in substantial accumulations of vessels at its ports.

FAR EAST: The market remains stable, with minor fluctuations.

Feb 05 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
Rates in the domestic market of road transport remain stable, but the market continues to be in a state of uncertainty due to low demand and insufficient load of transport. The reduction of return cargo from ports remains a serious challenge for carriers, reducing the efficiency of logistics routes and affecting the profitability of flights. Drivers and transport companies are forced to look for alternative loading options, but the overall situation complicates the operational planning of transportation.
In the near future, significant changes in the situation are not expected, since the volume of cargo flows remain unstable, and the demand for transport services varies depending on market conditions and seasonal factors.
Rates for international road transport to Europe decreased by 1-3€ depending on the direction. This may be due to a decrease in demand for Ukrainian agricultural goods in certain EU countries, which leads to a decrease in exports, as well as an increase in competition among carriers that are trying to attract customers in difficult market conditions.

- RAILWAY LOGISTICS
In January, there was a multidirectional dynamics of the volumes of carriage transfer at Western border crossings. At the Slovak and Hungarian borders, there was a decrease in the corresponding indicator: by 25.6% - to 23.5 weight/day and by 13.8% - to 36.2 weight/day, respectively.
The Romanian border, on the contrary, showed positive dynamics. During the month, the average daily transfer of wagons with grain increased by almost 81.5% - up to 9.2 scales/day compared to December. At the Polish border, the figure slightly increased - up to 39 scales/day.
The total average daily transmission of grain cargoes and meal decreased by 11.3% - up to 172 weights per day.
In the ports of Bolshaya Odessa, the average daily unloading of wagons for January increased by 15.5% - up to 1429 weights/day. The number of wagons heading towards the respective ports decreased by 24.8% - to 5494 units. The accumulation of wagons in the direction of the Izmail port decreased by 28.5% to 264 units, and the rate of unloading wagons with grain decreased by 10% - to 45 scales per day.
The cost of rail transportation was reduced in the range of 1-2$, depending on the direction.

- WATER LOGISTICS
In the sea transportation market, there was a decrease in rates from the Danube ports, which is due to the weak demand from the charterers. In particular, the freight barges from Ismail to Romania decreased by 1€ to 8-9€, and the transportation of coasters to Italy fell by 1$ to 25-27$. At the same time, the stakes from the ports of Greater Odessa remained stable.

Feb 05 - China has delayed or redirected 600,000 tons of wheat imports, sources say
China has delayed imports of up to 600,000 metric tons of mostly Australian wheat and offered some of these cargoes to other buyers as ample domestic supplies reduce demand in the world's top buyer of the grain, two trade sources with direct knowledge of the matter said. China accounted for 6% of global wheat imports in the year to June 2024, according to U.S. Department of Agriculture data.

Feb 05 - EU 2024/25 soft wheat exports down 37% at Feb 2
European Union soft wheat exports since the start of the 2024/25 season in July had reached 12.51 million metric tons by Feb. 2, compared with 12.18 million tons the previous week and down 37% from a year earlier, European Commission data showed on Tuesday. EU barley exports totalled 2.59 million tons, against 2.47 million tons a week earlier and down 27% from the corresponding period of 2023/24.

Feb 04 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 3% to $5,078/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 1% to $6,718/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 11% to $3,667/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) stayed level at $5,069/FEU.

- President Trump followed through this weekend on promises to apply tariffs to the America’s North American neighbors. Becoming the first president to use the International Emergency Economic Powers Act (IEEPA) to increase tariffs, Trump pointed to the illegal flow of fentanyl and immigrants from these countries as a national emergency warranting 25% tariffs on all Canadian and Mexican imports to the US and the cancellation of the de minimis exemption for goods from these countries until the situation improved. Trump also signed a 10% tariff increase and de minimis suspension for all Chinese goods, also in response to the illegal flow of fentanyl.
- On Monday though, the president determined that Canadian and Mexican government commitments to improving border controls – some of which were apparently already promised last week – were enough of an improvement to suspend the tariffs and restrictions for a month at which point the effectiveness of these steps will be assessed. The suspension also means planned Canadian and Mexican retaliatory tariffs are suspended, though the US tariffs and restrictions on China remain in place.
The sharp tariff increases on two of the US’s three largest trading partners roiled countries, markets and industries, and had many experts projecting price increases for consumers, slowed economic growth and significant disruptions to trade. So, for now, North American businesses and consumers are breathing a sigh of relief including for the fact that the U-turn may signal Trump is sometimes more interested in specific concessions than in protectionism that would keep tariff hikes in place.
But the drama also heightens the concern over how completely unpredictable and disruptive this second Trump administration may prove. And Trump’s pick for Commerce Secretary, Howard Lutnick, said this week’s tariffs were action-oriented tariffs aimed at illegal drugs and immigration and so implemented immediately via the IEEPA. “Ordinary tariffs” – presumably like the 60% proposed tariff on Chinese imports aimed at trade imbalances – will likely only come after the April US Trade Representative recommendations are finalized, as requested in Trump’s day one trade policy memo.
- If that’s the case, the big potential hike to 60% could come only in May or later. In the meantime, the 10% tariff increase on Chinese goods remains in place. China announced it will retaliate with a 15% tariff on certain US goods like coal, LNG and some machinery and is also opening an anti-trust probe into Google, alongside reports it will restart negotiations with the US to try and deescalate this round of the trade war.
- In terms of the impact on international freight beyond intra-N. America trade, recent events will probably heighten concern over sharp tariffs on China later this year. This development means we could expect frontloading ahead of tariffs – which has been a major factor keeping US ocean import volumes and transpacific container rates elevated since November – to intensify until the new tariffs are introduced or called off.
- Given that many shippers have already been pulling forward demand for several months, the degree to which frontloading will intensify is hard to predict. At the moment, as we’re still in the Lunar New Year holiday slowdown period, ocean rates have remained unchanged. But we could expect demand and rates to increase post-LNY.
- With transpacific container prices, already elevated on Red Sea diversions and frontloading, at more than $5,000/FEU to the West Coast and $6,700/FEU to the East Coast, enough of an extra boost could push rates up or past last year’s peak season July high of $8,000/FEU to the West Coast, which was also a near record month for volumes.
- Trump has announced intent to target the European Union as well. Some carriers have announced transatlantic peak season surcharges for March, possibly in anticipation of frontloading on this lane too. Frontloading on these lanes will likely also mean a drop in rates and volumes once tariffs are introduced or canceled.
- An even bigger immediate impact from this week’s action against China could come from the suspension of de minimis eligibility for Chinese imports to the US.
The savings and speed that the de minimis exemption affords low-value imports is a key facilitator of the flood of parcels – more than a billion in 2024 through Q3 – that are entering the US via this exception, mostly from China and mostly by air cargo. E-commerce shipments are accounting for an estimated 50 -60% of China - US air cargo volumes and dozens of full freighters each day. Total capacity out of China increased 25% year on year in 2024, so closing de minimis could drive a sharp drop in volumes and a spike in available capacity which could push rates down significantly.

Feb 04 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices fell 9% to $5.09/kg.
- China - N. Europe weekly prices  fell 1% to $3.24/kg.
- N. Europe - N. America weekly prices increased 5% to $2.35/kg.

- China - US rates were at about $3.50/kg in mid-2023 – still above the long term norm of about $2.00/kg as capacity was still recovering post-pandemic and the e-commerce surge had yet to begin. But since late 2023 rates have more or less stayed between $5.00/kg - $6.00/kg as e-commerce volumes took up capacity and pushed prices up. Current rates post the peak season bump are back down to $5.09/kg.
- The latest China - US rates are unchanged since January 29th, and as we’re still in the Lunar New Year holiday period we may not see rates respond immediately. But with global capacity at an all time high, rates on non-e-commerce lanes like the transatlantic were able to return to pre-pandemic norms of $1.60/kg by mid-2024.
- So if de minimis’ disappearance on the transpacific drives a significant exodus of e-commerce from air cargo on this lane we could expect rates to drop sharply, possibly below the $3.00/kg mark, especially as carriers work to shift freighters back to other lanes – which likewise could spread the rate decrease to other lanes.
- Transatlantic rates climbed from $1.60/kg in September to more than $3.00/kg in December partly due to freighter capacity moving from this lane to the transpacific to serve e-commerce demand. A shift of capacity back to lanes like these would see current prices of $2.35/kg ease further.

Feb 04 - Rio Tinto faces new iron ore shipping snarls due to cyclones
Rio Tinto said it had begun clearing iron ore ships from two Western Australian ports as two tropical cyclones offshore swell seas and complicate its efforts to repair infrastructure damaged by a previous cyclone last month. "Safety is our priority. As is procedure, we began sending ships from Cape Lambert Port at the weekend and Dampier Port last night, out to sea, to avoid high sea swells and wave conditions created by Tropical Cyclone Taliah and Tropical Cyclone Vince," a Rio spokesperson said via email.

Feb 04 - Ukraine farm exports fall almost 10% in January, lobby group says
Ukraine's agricultural exports in January fell by almost 10% from December, largely because of lower oilseed shipments, the UCAB business association said on Monday. Ukraine is a global grower and exporter of grain and oilseed and the world's leading exporter of sunflower oil.

Feb 03 - China's COFCO says it is committed to Brazil soy-buying moratorium
Chinese state-owned grain trader COFCO is committed to Brazil's soy-buying moratorium, Allan Virtanen, the company's global director of communications and sustainability said on Friday, despite pressure from local farmers to make it more flexible. Virtanen was addressing a press conference and declined to comment further.

Feb 03 - Iran's SLAL tenders for corn, barley and soymeal, traders say
Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 120,000 metric tons of corn, 120,000 tons of barley and 60,000 tons of soymeal, European traders said on Monday. The deadline for submission of price offers in the tenders is Tuesday, Feb. 4, they said.

Jan 31 - China passes on US soybeans despite Brazilian delays -Braun
Brazil’s slow soybean harvest means that supplies are not reaching buyers as quickly as they might have hoped. But China, the destination for more than 70% of Brazil’s annual soy exports, does not appear concerned.

Jan 31 - Morocco stops German feed grain imports over foot-and-mouth disease
Morocco has halted imports of feed grains from Germany following an outbreak of foot-and-mouth disease, the head of Morocco's grain trade federation (FNCL) said on Thursday. The import suspension affected "all untreated plant-based feed intended for animal consumption from Germany due to the foot-and-mouth disease outbreak there," Omar Yacoubi told Reuters.

Jan 30 - Russia's grain exports to drop by 20% in 2024/5 due to bad weather
Russian grain exports will fall by one-fifth from last season's record to 57 million metric tons in 2024-2025, after the harvest was hit by bad weather, Agriculture Minister Oksana Lut said on Wednesday. Lut said Russian companies exported 37 million tons in the first half of the export season and that an almost 70% cut in export quotas for the second half of the season was to protect the domestic market.

Jan 30 - LDC says Brazil soymeal cargo returned from port for reprocessing
A cargo of Louis Dreyfus Company soymeal destined for export from the southern Brazilian port of Paranagua was returned for reprocessing at one of the company's local plants, the grain processor told Reuters on Wednesday. LDC declined to provide details such as the timeline of the refusal, the size of the cargo and destination, or the nature of the issue with the cargo.

Jan 29 - NITRO Shipping Weekly Freight Report for Grains
AZOV SEA & BLACK SEA: Activity in the Azov Sea remains quite low. Owners are diligently seeking suitable cargo, while most charterers are driving rates down, eager to secure the lowest freight costs possible. Despite some market participants anticipating that traders would increase exports ahead of the export quota set to take effect on February 15th, freight rates have not seen significant increases. 5-7'k coal lots are rumoured to pay 17 usd pmt fiost to TBS ex Yeisk. Overall, the market appears to be relatively stable.

BALTIC SEA: The Baltic Sea and continental markets are currently strong, with an abundance of grains available. Shipowners are increasingly favoring routes towards the Baltic due to better payment rates for Baltic cargoes.

CASPIAN SEA: The market continues to face significant pressure as we approach the implementation of zero quotas for corn and barley starting February 15th. In light of this, some shipowners are opting to lay up their vessels for the upcoming months since current market rates do not allow for profitable operations. Meanwhile, the situation in Kazakhstan remains stable, with consistent demand. However, severe adverse weather has created challenges, resulting in approximately 20-30 ships awaiting loading at the port of Aktau.

FAR EAST: The market remained relatively stable throughout the extended holidays in China

Jan 29 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In the domestic market of road transport, there is a drop in rates. The main reason for this was a sharp reduction in the volume of return cargo from ports, in particular due to the decrease in cargo flows and the change in demand for transportation. The lack of a stable amount of work leads to difficulties in planning roundtrips, which makes them unprofitable. This encourages carriers to temporarily suspend operations or significantly reduce the number of flights operated.
The decrease in the activity of carriers leads to increased competition for available cargo that presses on rates. In the absence of a reverse load, a significant part of the vehicles are forced to return empty, which increases the cost of transportation.
It is expected that in the near future the situation will remain tense. Further drop in rates is likely if the flow of goods from ports is not restored in a stable volume. Some carriers who will not be able to adapt to the new conditions may withdraw from the market, which will lead to a reduction in the supply of logistics services.
Rates on road transport to Europe remain stable due to the steady demand for export goods and long-term contracts. Carriers are actively using roundflights due to the predictability of European markets and the convenience of reverse loading.

- RAILWAY LOGISTICS
During the 22 days of January, there was a gradual resumption of the volume of grain shipments at the Romanian border. This became possible after the completion of investigative actions of law enforcement agencies that negatively affected exports through the relevant border. During this period, the indicator grew by 93.3% - up to 9.86 weights/day compared to December.
At the border crossings with Slovakia and Hungary, there was a decrease in the volume of carriage transfer by 26.8% and 8.3% - up to 23.1 weights/day and 38.5 scales/day, respectively. At the Polish border, the figure was slightly reduced to 38.54 weight/day.
The total average daily transmission of grain cargoes and meal is 170 weights per day.
For 3 weeks of January, the number of wagons heading towards the ports of Odessa decreased by 23% - to 5,623 units. The average daily load rate of wagons increased by 13.5% - up to 1404 weights/day. The accumulation of wagons in the direction of the Izmail port decreased by 40.6% - to 219 wagons, and the rate of unloading wagons with grain decreased by 14% - to 43 scales per day.
Rates for rail transportation remain constant, pending recalculation of the tariff distance on February 1-2.

- WATER LOGISTICS
The shipping market shows signs of stabilization after previous fluctuations. Freight rates remained stable over the week, despite the low freight traffic.

Jan 29 - Brazil port finds 51 'adulterated' soymeal truck cargos
The Parana state port authority, which oversees operations at the port of Paranagua and Antonina in Southern Brazil, said sand had been detected in soymeal cargoes during an inspection, according to a statement sent to Reuters on Tuesday. That is considered "product adulteration", the statement said.

Jan 29 - Jordan buys estimated 50,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 50,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from Bulgarian trading house Buildcom at an estimated $265.25 a ton cost and freight included (c&f) for shipment in the first half of June, they said.

Jan 28 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 7% to $4,938/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 1% to $6,656/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 12% to $4,122/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 4% to $5,075/FEU.

Lunar New Year begins tomorrow, and as manufacturing and logistics have slowed down in the past week or so, ex-China ocean rates – that had climbed earlier during the pre-holiday rush – have also eased.
- Asia - Europe prices started climbing earlier than usual this year as shippers on these lanes accommodate longer transit times around Africa, and this planning ahead may mean not much of a backlog will need clearing just after the holiday. For the transpacific though, rates may rebound somewhat in mid-February, but for all these lanes prices should ease into the typical ocean freight slow season by late February.
- Transpacific rates to the West Coast have dipped by 17% since mid-January and Asia - Europe prices are 25% lower than just a few weeks ago, but at about $5,000/FEU and $4,000/FEU respectively, these rates are still more than double 2019 levels as continued Red Sea diversions absorb capacity across the market. And though the six-week phase one Israel-Hamas ceasefire is into its second week and the Houthis have paused attacks on passing vessels so far, carriers – with some limited exceptions – will not take steps to resume Red Sea traffic until they are convinced there will be long term quiet.
- The anticipation of Trump administration tariff hikes will likely cause continued frontloading until tariffs are rolled out which will keep ocean volumes and rates to the US higher than they otherwise would be in Q1 and possibly into Q2 depending on the timing of the increases. This pull-forward could also be felt in lower volumes and rates after tariffs are introduced.
- The president has continued to indicate he will introduce 25% tariffs on Canada and Mexico on February 1st. But his use of tariff threats as leverage for non-trade related demands as seen this week with Colombia’s repatriation of US deportees leaves open the possibility that other tariffs could be called off as well. Canada and the European Union announced they will introduce retaliatory tariffs if they are targeted by the White House which could be detrimental to US exports, and other nations are likely to do the same.
- Ocean carriers are prepared to roll out their new alliances on Saturday, with the Hapag-Lloyd and Maersk Gemini Cooperation launching a hub and spoke model that they say will deliver 90% schedule reliability to shippers.

Jan 28 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 7% to $5.61/kg.
- China - N. Europe weekly prices increased 2% to $3.26/kg.
- N. Europe - N. America weekly prices increased 3% to $2.33/kg.

Despite some previous reports of a recent air cargo e-commerce volume slump, indications are that the surge continues though demand and rates have eased from the December peak season bump. Freightos Air Index rates of about $5.60/kg from China to the US and $3.25/kg to Europe, show prices have come down from their respective $7.00/kg and $6.00/kg peaks but remain highly elevated relative to norms for this time of year due largely to e-commerce demand.
Use of expensive air cargo for low-value e-commerce goods is mainly driven by de minimis exceptions that exempt many small imports from customs filing costs and duties. But changes set in motion by the Biden Administration – as well as Trump’s interest in closing the loophole – could bar a large share of Chinese goods from using de minimis within a few months, which could have a significant impact on air cargo volumes and rates on this lane.

Jan 28 - Thai 2025 rice exports seen falling over 20% this year, commerce ministry says
Thailand's rice exports are seen falling about 24% to 7.5 million metric tons this year, the commerce ministry said. The lower forecast was due to the resumption of exports from India and improved volumes from other rice producers, Arada Fuangtong, head of the ministry's foreign trade department, told a media conference.

Jan 28 - Bangladesh issues another new tender to buy 50,000 T of rice
Bangladesh's state grains buyer has issued another international tender to purchase 50,000 metric tons of rice, traders said on Monday. The deadline for submission of price offers is Feb. 6.

Jan 27 - Argentina grains tax cuts should speed up soy, corn sales
Argentina's unexpected cuts to grains export taxes will likely trigger a surge in shipments from the sector, analysts said, while longer-term it could boost production in the South American country, a major supplier of soy, corn and wheat. The government announced on Thursday afternoon a temporary tax reduction on grains exports until the end of June, delivering on a campaign promise by libertarian President Javier Milei and giving a boost to farmers hit by a recent drought.

Jan 27 - Indian sugar mills seek higher prices; export contracts remain elusive
Indian traders are struggling to sign export contracts even after New Delhi allowed the export of 1 million metric tons as mills are seeking a hefty premium over London prices, which overseas buyers are unwilling to pay, four trade sources told Reuters. The slower pace of shipments from India, the world's second biggest sugar producer, will support global prices, which this week fell to their lowest in three years.

Jan 24 - Rio Tinto flags Q1 shipments hit after cyclone-induced rail disruptions
Rio Tinto warned that its first-quarter shipments could be affected by disruptions to its rail operations following record rainfall along Western Australia's Pilbara coastline due to tropical cyclone Sean. A railcar dumper at the East Intercourse Island port facility, which handled 45 million metric tons of total iron ore shipments in 2024, had experienced severe flooding, the producer of the steel-making commodity said.

Jan 24 - Thailand believed to pass in 195,000 T feed wheat tender, traders say
A group of importers in Thailand is believed to have rejected all offers and made no purchase in an international tender for up to 195,000 metric tons animal feed wheat which closed on Wednesday, European traders said on Thursday. Prices were regarded as too high. A minor purchase could not be ruled out but traders believed no substantial volume was bought.

Jan 23 - Fortescue's Q2 iron ore shipments edge up; Iron Bridge shutdown weighs
Shares of Australia's Fortescue slipped on Thursday to a one-week low as it posted a marginal rise in its second-quarter iron-ore shipments, largely in line with market expectations for the period. The company's shares fell as much as 1.3% to A$18.78 by 2343 GMT, slipping to its lowest level since Jan. 15.

Jan 23 - Algeria tenders to buy 240,000 T corn, 70,000 T soymeal
Algerian state agency ONAB has issued new international tenders to purchase up to 240,000 metric tons of animal feed corn and 70,000 tons of soymeal, European traders said on Wednesday. The deadline for submissions of price offers in the tenders is Thursday.

Jan 22 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
This week, the rates for road transport remain stable after the reduction in the cost of transportation last week due to a decrease in exports and a seasonal decline in demand. Rates on routes from central regions of Ukraine to ports of Odessa fluctuate within $23-27/t, to ports of Danube — $36-42/t. The immutability of tariffs is also maintained on European directions.
The market is expected to remain stable until the end of winter, although there may be fluctuations in rates in February, when demand for agricultural transportation may increase due to seasonal factors. This may lead to a slight increase in tariffs, especially on routes to EU ports. The European direction will continue to be key for Ukrainian carriers, ensuring constant demand and tariffs.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @80-115€
· Ternopil region - center. Bulgaria @71-80€
· Cherkasy region. - Pd. Romania @73-90€

- RAILWAY LOGISTICS
As of January 20, there was a decrease in the volume of grain shipments at the borders with Hungary and Slovakia: by 9.9% - up to 37.9 weights per day, and by 30.7% - up to 21.8 scales per day, respectively. At the same time, at the Romanian border, the volume of carriages transmission increased by 55.8% - up to 7.9 scales per day. At the Polish border, the figure slightly increased to 38.9 weights/day.
The total average daily cargo transmission increased slightly to 172 weights per day.
In January, the number of wagons heading towards the ports of Greater Odessa decreased by 22.2% - to 5684 units. However, the average daily discharge rate increased by 12.1% - up to 1387 weights/day. The accumulation of wagons in the direction of the Izmail port decreased by 32.2% - to 250 units. The rate of unloading wagons with grain in the corresponding port decreased by 8% - up to 46 scales/day.
The cost of rail transportation remained unchanged compared to the previous period.

- WATER LOGISTICS
The shipping market is influenced by a significant amount of free tonnage and surplus vessels, which creates pressure on freight rates. This situation forced the owners of ships to reduce prices in certain areas by an average of $1-2/t. In particular, the rates for coasters from Izmail to Italy decreased to $26-28/t, and for the Hendisayz from the ports of Big Odessa in the same direction fell to $15-16/t.

Jan 22 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov Sea market remains sluggish, with numerous open positions for spot and prompt dates, leading to considerable flexibility in freight rates among owners. Charterers are opting to bide their time, seeking the lowest possible rates given the abundance of available offers. However, owners anticipate a potential market uptick in the next one to two weeks, as the February 15th deadline approaches, when an export quota will come into effect.

BALTIC SEA: The Baltic Sea and Continent market is currently quite stable. Shipowners are willing to hold off until closer to the spot to negotiate more favorable rates.

CASPIAN SEA: In recent days, Iranian buyers have persisted in lowering prices for goods, further intensifying the pressure on already depressed freight rates. Meanwhile, Kazakhstan is facing a complex scenario regarding the export of barley, as adverse
weather conditions have led to significant backlogs of ships and wagons at the ports.

FAR EAST: The market continues to be weak.

Jan 22 - EU 2024/25 soft wheat exports down 36% by Jan 19
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 11.74 million metric tons by Jan. 19, down 36% from a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 2.36 million tons, down 31% from the corresponding period of 2023/24.

Jan 22 - EU 2024/25 soybean imports up 15% by Jan 19, rapeseed up 5%
European Union soybean imports so far in the 2024/25 season that started in July had reached 7.91 million metric tons by Jan. 19, up 15% from a year earlier, data published by the European Commission showed on Tuesday. EU rapeseed imports totalled 3.41 million tons, up 5% from a year earlier, while soymeal imports jumped 31% to 10.97 million tons and palm oil imports totalled 1.60 million tons, down 19% year on year.

Jan 21 - Weekly Ocean rates Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 10% to $5,321/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 3% to $6,715/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 17% to $4,694/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 7% to $5,283/FEU.

- Israel-Hamas Ceasefire and Red Sea Crisis
The six-week first stage of the Israel - Hamas ceasefire began on Sunday bringing a reprieve to the fifteen months of fighting which were also the pretext for Houthi attacks on vessels in the Red Sea.
The Houthis released statements announcing that as long as the ceasefire holds they will not attack nearly all Red Sea traffic. The group claims it will not target vessels making Israeli port calls or partially owned by Israeli companies or individuals, but will attack vessels wholly-owned by Israeli entities or flying the Israeli flag and would also attack US or UK vessels in response to any new US/UK strikes of Houthi positions in Yemen.

- Some experts are skeptical that the Houthis – who may have significant financial as well as geopolitical incentives to keep the Red Sea unsafe – will refrain from additional attacks even during the first stage of the ceasefire. Their current commitment only to attack Israeli vessels is similar to their stated scope of targets in late 2023 which quickly expanded to include virtually any passing ship.

- Another challenge to optimism that the current quiet marks the beginning of the end for the Red Sea crisis is that, even assuming the Houthis stand down for the next six weeks, sustained quiet is contingent upon Hamas and Israel agreeing on terms for the second and then third stages of the ceasefire. Negotiations for the second stage are set to begin on February 5th, but President Trump already stated that he is not confident the ceasefire will hold into the, in many ways more challenging, later stages.

- Ocean carriers see current developments as a promising first step towards the resumption of Red Sea traffic. But despite reports that CMA CGM is planning to increase its use of the Suez Canal, most carriers – as well as many shippers and forwarders – will not take the costly and complicated concrete steps to return to the Red Sea until they are confident that the route is and will remain safe.

- When Red Sea transits do resume though, the adjustment period to the shorter route for traffic from Asia to Europe and the Mediterranean as well as some volumes to North America could last for several weeks or longer. Schedule disruptions and vessel bunching in Europe and Asia as ships start arriving early will cause some congestion and delays at these hubs, which could put upward pressure on rates in the short term.
 
- In the longer term though, the capacity that was absorbed by Red Sea diversions and that was responsible for container rates of at least double the norm throughout 2024 will be released back into the market. This surge in capacity will put significant downward pressure on rates. Some carriers have expressed confidence that slow steaming and an increase in scrapping, idling and blanked sailings will prevent a rate collapse. But the possible supply surplus could result in loss-making prices as low as those seen in late 2023 when transpacific rates dipped to $1,200/FEU and Asia - Europe and transatlantic prices slumped to about $1,000/FEU.

- For the time being ex-Asia rates are easing as the lead up to Lunar New Year has ended. As the new alliances prepare to launch, some of the rate decrease may also be due to some increased competition between carriers. Transpacific prices could rebound somewhat just after LNY on some backlog of shipments not moved before the holiday, though a backlog and price bump are less likely for Asia - Europe as shippers moved goods earlier than usual this year.
Trump Trade Memo, Tariffs and De Minimis

- The other major developments for freight markets this week were linked to President Trump taking office.
Though the president stated he is not ready to announce a global tariff just yet, he said he aims to place his promised 25% tariff on Mexico and Canada by February 1st. Despite that short timeline, which some observers think is possible via the International Emergency Economic Powers Act, Trump’s America First Trade Policy memorandum, issued just after the inauguration, implies a longer runway before those new tariffs.

- Among other things – and in addition to calling for a review of the USMCA and an assessment of fentanyl imports, both relevant to the proposed tariffs on Canada and Mexico – the sweeping trade memo directs the relevant federal agencies to investigate and make recommendations regarding the state of US manufacturing and the overall trade deficit; review exemptions to steel and aluminum tariffs; determine China’s degree of compliance with existing trade agreements; and assess the losses to tariffs as well as the risks linked to the ongoing surge of de minimis imports.

- These requests for investigations and recommendations echo those Trump issued during his first administration, and which were the first step in the often months-long process culminating in the actual implementation of new tariffs or trade policies during Trump’s first administration. This week’s memo sets April deadlines for the requested reports and recommendations, which may make a February 1st tariff hike less likely.

- Back in September the Biden administration announced plans to significantly close the de minimis exemption to Chinese goods. That directive resulted on Friday in a US Customs and Border Protection notice of proposed rulemaking that triggers a 60-day review period and which could result in those sweeping changes to Chinese imports’ eligibility for the de minimis exemption. Trump has not spoken much about the de minimis issue specifically previously, but the topic’s inclusion in the memo makes it likely that the rule change could move forward under the new administration.

Jan 21 - Weekly Air rates Freightos Air index

- China - N. America weekly prices fell 11% to $5.26/kg.
- China - N. Europe weekly prices fell 9% to $3.19/kg.
- N. Europe - N. America weekly prices increased 2% to $2.16/kg.

- The flood of de minimis parcels from China – often from e-commerce platforms Temu and Shein – since mid-2023 is the main driver of air cargo rates that, even post-peak season, remain highly elevated at more than $5.00/kg from China to North America, and more than $3.00/kg to Europe. Legislation that bans many of those packages from entering the US via the quick and inexpensive de minimis route could significantly curb air cargo volumes into the US, freeing up capacity and putting downward pressure on rates as a result.

Jan 21 - Algeria tenders to buy 240,000 T corn and 50,000 T soymeal
Algerian state agency ONAB has issued international tenders to purchase up to 240,000 metric tons of animal feed corn and about 50,000 tons of soymeal, European traders said on Monday. The deadline for submissions of price offers is Tuesday, Jan. 21.

Jan 21 - Ghana delayed delivery of 370,000 t of cocoa in the 2023/24 season, official says
Ghana has delayed the delivery of 370,000 metric tons of cocoa in the 2023/24 season due to poor output, its food and agribusiness minister-designate told a parliamentary committee Monday, up from the 350,000 tons previously reported by Reuters. The unprecedented move to delay delivery from the previous 2023/24 season to the ongoing season follows a sharp drop in production to a two-decade low, Eric Opoku said during his vetting process in parliament.

Jan 20 - Tropical cyclone prompts closure of ports in Western Australia's Pilbara region
Western Australia's ports of Dampier, Ashburton, Varanus Island, and Cape Preston West were shut, the ports' operator said on Sunday, as tropical cyclone Sean developed off the state's vast Pilbara iron ore region. Pilbara Ports said on its website that it closed the ports at 8 p.m. local time on Saturday on concerns about weather off the coast of the Pilbara, an iron-ore rich area twice the size of the United Kingdom.

Jan 20 - Argentina likely back as No. 2 barley exporter with current harvest
Argentina will likely regain its status as the second-biggest barley exporter as the current harvest wraps up, the Rosario grains exchange said on Friday, as the area sown with the crop expanded and other key exporters like Russia expect to ship less. Barley is widely used for livestock feed, as well as to make malt for beer and other alcoholic drinks.

Jan 17 - Chinese buyers switch to cheaper Brazilian soybeans ahead of Trump return
hinese soybean processors have turned to competitively priced Brazilian cargoes instead of U.S. oilseeds, amid fears Washington will impose import tariffs after President-elect Donald Trump takes office on Jan. 20. Worries about revived trade tensions during Trump's second administration have already disrupted trade flows to China, the world's biggest agricultural goods importer, prompting buyers to stockpile inventories and seek alternative suppliers.

Jan 17 - Surging corn prices trigger spate of sales from US farmers
Farmers across the Midwest have boosted crop sales as corn and soybean futures spiked after the U.S. Department of Agriculture slashed its 2024 harvest estimates, grain dealers in Iowa, Illinois, Indiana and Nebraska said. Corn prices are now up about 10% over the past month. The surge came after prices hit 2020 lows last year due to oversupply, which eroded farmers' incomes and hit the rural economy hard.

Jan 16 - French wheat export forecast held at lowest this century, barley cut
Farm office FranceAgriMer on Wednesday kept its monthly forecast for 2024/25 French soft wheat exports outside the European Union unchanged at the lowest this century, as a dearth of demand from Algeria and China continued to weigh. A drying up in sales to the countries, two of France's main overseas markets in recent years, has come on top of a poor French harvest and competition from cheaper Black Sea supplies.

Jan 16 - Brazil coffee exports hit record in 2024
Brazil exported a record of 50.4 million 60-kg bags of coffee in 2024, industry group Cecafe said on Wednesday, with both arabica and robusta variety shipments at historic highs and amid supply issues from other major producers such as Vietnam. Brazil's total coffee exports, which include industrialized coffee, rose 28.5% last year from 2023, Cecafe said, beating a previous record in 2020, when the country shipped 44.7 million bags.

Jan 15 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In the market of road transport, there is a decrease in rates for the transportation of goods by dump trucks in the direction of ports. Transportation from the central regions to the ports of the Danube fell by an average of $2 and is currently $36-42/t. In the direction of the ports of Odessa, rates decreased more significantly - by $3-5, to $23-27/t. This is due to the post-holiday decline in activity and seasonal reduction of cargo flows. Increased transport availability increases competition between carriers, forcing them to lower prices to attract orders.
The rates for transportation to European countries remained unchanged, which indicates a stable demand for transportation to the EU and fulfillment of obligations to partners. Demand for domestic routes decreased, which led to cheaper transportation, emphasizing the importance of foreign markets for Ukrainian carriers in the context of economic challenges.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @80-115€
· Ternopil region - center. Bulgaria @71-80€
· Cherkasy region. - Pd. Romania @73-90€

- RAILWAY LOGISTICS
During the 12 days of January, mixed tendencies of transferring wagons with grain were observed at the Western border crossings.
At the Polish border, the increase in the transfer of wagons by 27.15% was recorded - up to 48 scales per day compared to the same period in 2024.
At all other border passes there was a decrease in the corresponding indicator. In percentage terms, the largest decrease was recorded at the Slovak border, where the figure decreased by almost 36.5%. In the Romanian and Hungarian areas, the corresponding figure decreased by 28% and 22.7%, respectively. In absolute terms, for 12 days at the Slovak border, the rate of carriage transmission was 20.1 weights per day, in Romanian - 3.67 weights per day, and in Hungarian - 32.5 weights per day.
The total average daily cargo transmission decreased by almost 13.9% - up to 167 weights per day. In the ports of Odessa there was an increase in the average daily unloading of wagons by 12.1% - up to 1287 weights/day. However, the number of wagons heading to deep-sea ports fell by 17.4% to 6,037 units.
The accumulation of wagons with grain in the port of Izmail increased by 52.85% - up to 565 units. The average daily rate of unloading of wagons has undergone a slight decrease and is 51 units.
Transportation rates in Ukraine have changed unevenly: in regions far from ports or border crossings, they have increased, while near the main transport hubs, a decrease was recorded due to the weakening of the load.

- WATER LOGISTICS
In the sea transportation market there is an excess of free ships against the background of lack of fresh cargo, which led to a decrease in freight rates from deep-sea ports of Ukraine. In particular, the rates for Hendisayz in the direction of Italy fell to $16-17/t, and to Spain - to $17-19/t. In contrast, freight rates on barges from the ports of the Danube remain mostly stable.

Jan 15 - NITRO Shipping Freight Reports for Grains

AZOV SEA & BLACK SEA: The Azov sea market is slowly trying to recover after long Russian holidays and absence of cargoes. But owners still have to put some effort into finding the right cargo, even staying several days at Kerch is common. It is easier to find a 3'k cargo rather than a 5'k tonner and thus the money paid is a bit higher for 3'k parcels.

BALTIC SEA: The Baltic sea market as usual at this time of the year is pretty weak. No high demand for vessels observed.

CASPIAN SEA: The Caspian basin market is experiencing severe stress, and after the New Year holidays, the number of shipments from Astrakhan and Makhachkala has dropped significantly, and freight rates continue to decline. On the other hand, Kazakhstan shows stable demand, most shipowners now prefer to wait for loading in Aktau, the average wait caused by collision and bad weather is 7-10 days.

FAR EAST: The market is keeping weak, nowadays due to low quantity of export cargoes.

Jan 15 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) stayed level at $5,924/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 1% to $6,898/FEU.
- Asia-N. Europe prices (FBX11 Weekly) increased 1% to $5,640/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 1% to $5,685/FEU.

- Shippers who rely on US East Coast and Gulf ports were able to breathe a sigh of relief last Wednesday night when the ILA and USMX announced a tentative agreement for a new six year contract, ending the strike threat and extending the existing contract through the review and ratification period that is required by both parties and will begin shortly.
The sides had appeared far apart on the role of port automation, with the USMX seeking the introduction of technologies to make the ports more efficient, and the union rejecting even semi-automated operations that could eliminate jobs. But secret meetings by representatives last Sunday yielded language for a compromise that ultimately led to the Wednesday night announcement.
- Details of the agreement are being withheld during ratification, but the joint statement explained that the agreement will protect current jobs and establish a framework for implementing technologies that will create more jobs and modernize the ports.
- The WSJ reports that the new deal will bar full automation from ILA ports, and will detail processes for how new technologies will be implemented without reducing union headcounts. It reportedly will allow operations at ports which already have multiple semi-autonomous cranes operated by a single worker to remain unchanged, while terminals adding new semi-autonomous cranes will be required to hire one union worker for each new crane.
- These terms look like a win for the ILA by preventing both the introduction of full automation and the loss of jobs when semi-automation is introduced. The USMX gains the right to introduce tech to improve efficiency – including better yard density – via the compromise, though without realizing the full cost reductions that automation otherwise might bring.
Frontloading ahead of the possible January strike had helped keep N. America container rates elevated into November but were no longer a driver of rates as the strike deadline got closer. Though transpacific prices to both coasts were level last week, rates had climbed sharply to start the month as demand is increasing ahead of the Lunar New Year holiday which starts January 29th. Asia - West Coast prices climbed 52% compared to late December up to the $6,000/FEU level with East Coast rates at about $7,000/FEU for a 30% gain.

- For Asia - Europe and Mediterranean shippers LNY demand started earlier than usual this year due to longer lead times from Red Sea diversions. Rates that had increased about 60% from early November into December to about the $5,500/FEU level have been stable since then, with daily rates this week already starting to ease. Reports that some carriers intend to lower prices to about $4,000/FEU soon also suggest an unusually early end to the LNY rush and low expectations for the not uncommon upward pressure on rates just after the holiday.
Asia -Europe prices may soon fall all the way back to the Red Sea crisis-era floor of $3,000-$4,000/FEU hit in the low demand periods last year. But transpacific rates may not recede as significantly once LNY demand eases, since frontloading ahead of expected US tariff increases may be keeping volumes higher than they otherwise would be in Q1, with the NRF projecting a 10% increase in January volumes compared to last year.
- So far there are no reports of significant logistics disruptions resulting from the devastating fires in Los Angeles, and container ports are far enough away from the blazes that they have been unaffected. The scope of the future rebuilding effort could eventually impact container volumes as construction material imports increase, which was one factor in elevated ocean volumes and rates into Turkey following the earthquake in 2023.

Jan 15 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices fell 4% to $5.90/kg.
- China - N. Europe weekly prices increased 2% to $3.50/kg.
- N. Europe - N. America weekly prices stayed level at $2.11/kg.

Air cargo rates continued to ease from their December peak season bump, but remain well above slow-season norms as e-commerce volumes continue to keep demand for capacity strong. Freightos Air Index data show transatlantic rates have fallen 33% from their December peak suggesting some peak season volumes were routed through Europe this year. But at $2.12/kg, the current rate is still 17% higher than a year ago and 32% higher than during low-demand periods last year, possibly reflecting the continued capacity deficit on this lane resulting in shifts of freighters to the Pacific.

Jan 15 - EU 2024/25 soft wheat exports down 35% by Jan 12
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 11.49 million metric tons by Jan. 12, down 35% from a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 2.26 million tons, down 32% year on year.

Jan 15 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $267.60 a ton cost and freight (c&f) for shipment in the second half of March, they said.

Jan 14 - Panama Canal traffic rose in Dec, but waterway still has empty slots
The average number of vessels that passed through the Panama Canal in December increased to 34.2 per day, according to a notice from its authority seen on Monday, but the waterway did not fill all the slots on offer, a sign that some ships continue taking alternative routes. The canal, the world's second busiest and the only interoceanic way that operates with freshwater, between August and September lifted passage restrictions following a severe drought that forced a limit to daily transits and vessel drafts.

Jan 14 - China torments and titillates seaborne coal market: Russell
China imported a record amount of coal in 2024, driving world imports of the fuel to an all-time high. So why are coal exporters starting 2025 in a deep blue funk? For coal exporters, China is both their saviour and tormentor, as the record import volumes are only possible because seaborne prices have dropped to multi-year lows.

Jan 13 - France's Senalia says poor crop to slash its 2024/25 exports
Senalia, which runs the largest terminal at France's biggest grain port Rouen, forecast on Friday its export volumes would drop by more than half this season after a poor French harvest. Cooperative-owned Senalia said that for the 2024/25 July-June season, it expects to handle 1.6 million metric tons of cereal shipments, down from 3.85 million in 2023/24.

Jan 13 - Brazil's 'soy moratorium' faces test as Supreme Court ruling looms
The Brazilian Supreme Court is ready to rule on a request challenging a state law that ends tax breaks for grain traders banning soy purchases from deforested areas of the Amazon rainforest after a cut-off date. The legislation was passed by the country's top soy-producing state Mato Grosso but was prevented by Justice Flavio Dino from going into effect on Jan. 1 until a final decision is made.

Jan 10 - Brazil freight lobby sees grain shipping disruptions after new toll rule
A freight lobby has warned of the risk of "logistical collapse" after Brazilian transport agency ANTT changed payment system rules for trucks moving millions of tons of agricultural commodities and other cargo, according to a statement on Thursday. The introduction of electronic tags as the only accepted means of payment comes as Brazil begins harvesting a massive soybean crop of nearly 170 million tons, said Carley Welter, executive director at ANATC, an association of freight firms.

Jan 10 - Taiwan buys estimated 114,650 T wheat of U.S.-origin, traders say
The Taiwan Flour Millers' Association purchased an estimated 114,650 metric tons of milling wheat sourced from the United States in a tender on Thursday, European traders said. The purchase involved various wheat types in two consignments for shipment from the U.S. Pacific Northwest coast.

Jan 09 - Ukraine export regime hit Dec farm exports, ministry says
Ukraine saw a slump in December farm exports after introducing an export regime aimed at curbing tax avoidance on agricultural commodities, the agriculture ministry told Reuters on Wednesday. On Dec 1 the government introduced minimum export prices, imposed new controls over shipments by the country's tax and customs services, and limited export authorisation to those firms which pay value-added tax.

Jan 09 - South Korea’s KFA Busan bought 65,000 T corn in private deal, traders say
The Korea Feed Association (KFA) in South Korea purchased an estimated 65,000 metric tons of animal feed corn in a private deal on Wednesday without issuing an international tender, European traders said. The corn was bought by the KFA’s Busan section and was believed to have been purchased from trading house United Grain Corporation at an estimated $238.40 a ton cost and freight (c&f) plus a $1.50 a ton surcharge for additional port unloading for arrival in South Korea around March 20.

Jan 08 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In December, exports by road amounted to 267.4 thousand tons, which is 21.3% less than in November. The reduction of agricultural production passes occurred at all borders. The highest percentage of fall was recorded at the Slovak and Hungarian borders, where exports of agricultural products decreased by 39.2% and 25.2% - to 13.9 thousand tons and 28.5 thousand tons, respectively.
At other borders, the decline varied between 18% and 20.5%. In absolute terms, on the Polish border, the indicator of agricultural products passing for December was 107 thousand tons, in Romanian - 73.6 thousand tons, and in Moldovan - 44.2 thousand tons.
The main export goods for the corresponding period were sunflower oil (27.5 thousand tons) and poultry meat (19.9 thousand tons).
During the first 6 days of January, the volume of agricultural exports by road amounted to 24.9 thousand tons, which is 64.6% less than in the same period of December. The decrease in agricultural products skipping is due to the low activity of market participants due to the New Year holidays.
Domestic transportation rates in Ukraine have been reduced slightly. European routes for dump trucks and awnings generally saw an increase in the cost of transport, especially in the directions of Bulgaria and Italy. At the same time, the exception was Romania, where the rates, on the contrary, decreased.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @80-115€
· Ternopil region - center. Bulgaria @71-80€
· Cherkasy region. - Pd. Romania @73-90€

- RAILWAY LOGISTICS
In December, there was a decrease in export shipments by rail at all borders in comparison with November.
The greatest decrease was observed at the Romanian and Hungarian borders, where the average daily transmission of wagons with grain decreased by almost 55% and 25.2% - up to 5.1 weights/day and 42 weights/day, respectively. At the Polish and Slovak borders, the rate of carriage transmission decreased by 17.4% and 16.8% to 37.75 weights/day and 31.6 weights/day, respectively.
The total average daily transmission of grain cargoes and meal decreased by almost 15% - up to 195 weights / day.
In the ports of Odessa there was a slight increase in the average daily unloading of wagons for a week - up to 1237 weights / day. However, the number of wagons heading in the direction of deep-sea ports decreased by 10.9% - to 7307 units.
The accumulation of wagons with grain in the port of Izmail decreased by 21.3% - to 369 units. The average daily rate of unloading wagons decreased by 7.4% - up to 50 weights / day.
The cost of rail transportation has been reduced slightly compared to the previous period.

- WATER LOGISTICS
The first week of January 2025 was characterized by moderate activity of market participants through the festive period. Freight rates remained stable: from ports of Big Odessa transportation to Italy cost 17-18$ per ton, and to Spain - 20-22$. From the Danube ports barges to Romania, the average cost of transportation was 9-10€ per ton, while coasters to Italy - 27-29$.

Jan 08 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $268.90 per ton, cost and freight included (c&f), for shipment in the first half of March, they said.

Jan 08 - EU 2024/25 soft wheat exports down 34% by Jan 5
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 11.16 million metric tons by Jan. 5, down 34% from 16.89 million tons a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 2.24 million tons, down 32% from 3.31 million tons in the corresponding period of 2023/24.

Jan 07 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 23% to $5,929/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 13% to $6,934/FEU.
- Asia-N. Europe prices (FBX11 Weekly) increased 8% to $5,558/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 3% to $5,630/FEU.

- The January 15th expiration of the interim ILA - USMX agreement set at the conclusion of the three day October strike is rapidly approaching.
Talks resumed but quickly collapsed in November with the sides far apart on the role of automation and semi-automation at these ports. Negotiations are scheduled to restart today though carriers are preparing for a strike, with Maersk urging shippers to pick up or return containers as soon as possible at East Coast and Gulf ports, and multiple carriers announcing mid-month disruption surcharges ranging from $850 to $2,000/FEU.   
- President elect Trump has explicitly backed the ILA position against automation, and with the deadline five days before the inauguration there’s speculation that the USMX – made up mostly of foreign ocean carriers – would face significant pressure to concede. In this scenario, if there is a strike it may be brief.
On the other hand, if the carriers expect to lose in any case, some suspect the carriers may hold out for longer, which would create congestion, backlogs, and increased freight rates and revenue for the carriers in the short term.
- If the talks do not lead to a quick breakthrough we’ll likely see ports and carriers announce additional preparations like those in late September. These steps included deadlines to pick up or drop off containers, extended gate hours, reefer booking suspensions, some vessel diversions to East Coast alternatives for ships scheduled to arrive around the deadline, and stopped-clocks on demurrage charges for containers stuck at ports during the strike.
A prolonged shutdown would eventually impact vessel and container availability at origin ports in Europe and Asia, which could spread the strike’s impact beyond North America causing delays and rate increases for lanes out of those hubs.
- A significant shift of volumes or diversions to the West Coast are probably unlikely, as many shippers, with peak shopping season just behind them, may be willing to have containers wait at sea or at ports rather than incur the additional costs and hassle of a coastal shift.
Unrelated to the possible strike, transpacific container rates climbed sharply to start the year on GRIs supported by pre-Lunar New Year demand. Prices are up to the $6,000/FEU level to the West Coast and at about $7,000/FEU to the East Coast, with West Coast prices already 20% higher than their LNY peak last year and East Coast rates 3% higher. Volumes are likely already stronger than usual on some frontloading ahead of expected tariff hikes. Though some carriers are considering an additional GRI mid-month, there is skepticism that another increase attempt would succeed so close to the holiday period.
- Asia - Europe and Mediterranean rates climbed only moderately last week after significant increases in November and into early December as LNY demand started earlier than usual this year on these lanes due to longer lead times from Red Sea diversions. The pre-holiday rush, as well as some bad weather, is already leading to increased congestion and equipment shortages in China – with delays of up to four days in Shanghai, Qingdao and Ningbo – and in the Philippines and Vietnam as well.
Labor shortages and strikes in some areas are also leading to congestion and delays at European hubs like Hamburg and Rotterdam as well as ports in Spain and Italy. These factors could cause additional upward pressure on rates leading up to LNY.
- Ex-Asia rates should ease as seasonal demand decreases later in February and into March. For Asia-Europe trade, prices may fall back to the $3,000-$4,000/FEU Red Sea-adjusted floor reached last March and again in October, though for the transpacific continued frontloading ahead of expected tariffs could keep rates from easing as significantly.

Jan 07 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 8% to $6.15/kg.
- China - N. Europe weekly prices fell 20% to $3.44/kg.
- N. Europe - N. America weekly prices fell 8% to $2.12/kg.

- With air cargo’s peak season now over, Freightos Air Index data shows ex-China rates have started to decline. China - N. America prices that climbed past $7.00/kg in December are now back to about $6.00/kg. This level is one it held for much of H2 last year, but is still well above the long term non-peak average of about $2.00/kg as e-commerce volumes continue to impact the market.
- Asia – Europe air rates fell back to $3.44/kg last week after climbing above the $5.00/kg mark briefly in mid-December. And transatlantic rates, which increased 75% to more than $3.00/kg from October to mid-December, have now eased to $2.12/kg. Much of the rate climb on this lane is attributed to peak season capacity shifts to the pacific, but the recent dip suggests some N. American peak season volumes were also being routed through Europe.

Jan 07 - Syria unable to import wheat or fuel due to US sanctions, trade minister says
Syria is unable to make deals to import fuel, wheat or other key goods due to strict U.S. sanctions and despite many countries, including Gulf Arab states, wanting to do so, Syria's new trade minister said. In an interview with Reuters at his office in Damascus, Maher Khalil al-Hasan said Syria's new ruling administration had managed to scrape together enough wheat and fuel for a few months but the country faces a "catastrophe" if sanctions are not frozen or lifted soon.

Jan 07 - EU's cleaner marine fuel rules are inflationary, shipbrokers say
European Union marine fuel rules, effective from Jan. 1 as part of efforts to cut emissions, will raise shipping costs, although firms with vessels that can run on alternative fuels, such as biodiesel and LNG, will benefit, two shipbrokers said. The policy is the second major EU regulation focused on cutting the shipping industry's carbon emissions in as many years. Shipping transports over 80% of all traded goods and causes nearly 3% of greenhouse gas emissions.

Jan 06 - Kazakhstan exported 3.7 mt of grain from Sept to end Dec, agriculture ministry says
Kazakhstan exported 3.7 million metric tons of new-harvest grain from September to the end of December last year, up 54% from the same period in 2023, the agriculture ministry said on Sunday. The Central Asian country boosted exports to Uzbekistan, Tajikistan, Afghanistan and Kyrgyzstan. Exports to Iran increased by a factor of 30, the ministry said.

Jan 06 - Thai rice exports seen dropping 25% in 2025, association says
Thailand's rice exports will likely drop by 25% in 2025 from last year, an industry group said, partly due to more shipments from India. Thailand expects to export about 7.5 million tonnes of rice in 2025, down from 10 million tonnes in 2024, Chookiat Ophaswongse of the Thai Rice Exporters Association, told Reuters.

Jan 03 - Argentina's agro export revenue up 58% in December, 27% in 2024
Argentina's farm sector brought in a total $1.97 billion through exports in December, a 58% increase compared to the some month a year earlier, the CIARA-CEC chamber of oilseed and grains crushers and exporters said. Full-year revenues were up 27% from the previous year, driven by an increased grain crop, the chamber said in a statement.

Jan 03 - About 50,000 tons of Ivorian cocoa smuggled to Guinea in Oct-Dec
A farmer holds an opened cocoa pod at a farm in Sinfra, Ivory Coast April 29, 2023.
Cocoa smuggling from Ivory Coast to Guinea is taking on worrying proportions, exporters told Reuters, estimating that some 50,000 metric tons - worth about $573 million at current global prices - were illegally transported between October and December. Ivorian cocoa smuggled across the border was worth 5,000 CFA francs ($7.95) per kilogram, while Ivory Coast's fixed price paid to cocoa farmers was set at 1,800 CFA francs per kg in September.

Jan 03 - Argentina's agro export revenue up 58% in December, 27% in 2024
Argentina's farm sector brought in a total $1.97 billion through exports in December, a 58% increase compared to the some month a year earlier, the CIARA-CEC chamber of oilseed and grains crushers and exporters said. Full-year revenues were up 27% from the previous year, driven by an increased grain crop, the chamber said in a statement.

Dec 30 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 8% to $4,825/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 3% to $6,116/FEU.
- Asia-N. Europe prices (FBX11 Weekly) increased 4% to $5,155/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 4% to $5,471/FEU.

- Ocean rates out of Asia overall trended up slightly to end the year, but with Lunar New Year (LNY) approaching and a range of January GRIs announced for the transpacific, container prices on these lanes could face upward pressure to start 2025. A seasonal decrease in demand starting later in February should see rates ease on the ex-Asia lanes, though Red Sea diversions will keep them elevated well above long term averages just as they were through 2024.

- Pre-Lunar New Year demand will combine with higher than normal volumes for this time of year into the US. And the post LNY dip in volumes will likely be less pronounced than usual too as many US shippers continue to frontload ahead of expected tariff increases, with this pull-forward already reflected in record November volumes at the port of Long Beach.

- Since the 2017 start of the US - China trade war, Chinese imports to the US have fallen while Mexican imports increased. But at the same time, Chinese investment in and trade with Mexico surged. And with Mexican tariffs usually lower than US duties, the USMCA facilitating low-barrier trade between Mexico and the US, and the INMEX program allowing many imports destined for the US to enter Mexico duty-free, many of these Chinese imports were arriving in Mexico as a channel to the US market.

- Last week though, Mexico’s President Sheinbaum signed an act that immediately raised tariffs on apparel imports from countries including China to as high as 35%. The act will also essentially close INMEX to certain categories of textiles and apparel, challenging importers who had relied on these methods to reduce their exposure to US duties, including e-commerce sellers for whom INMEX was key to their decisions to import via Mexico. In January, the government will also start enforcing stricter reporting requirements for B2C e-commerce imports.
In other recent trade war-related developments, Panama rejected President-elect Trump’s recent accusation that China exerts control over the Panama Canal.
- Volume strength relative to last year, together with Red Sea-driven capacity reductions kept 2024 transatlantic container rates above the loss-making lows seen in 2023, with prices around the $2,500/FEU level since October. Though rates dipped 10% last week, carriers are announcing January disruption surcharges for this lane in anticipation of a possible mid-month ILA strike. A prolonged strike would cause congestion and disruptions that could put additional upward pressure on East Coast lanes in January.

Dec 30 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 3% to $5.67/kg.
- China - N. Europe weekly prices fell 13% to $4.28/kg.
- N. Europe - N. America weekly prices fell 16% to.$2.30/kg.

- In air cargo, Freightos Air Index data show that transpacific rates eased to $5.67/kg last week from highs of around $7.00/kg earlier in December as peak season for air closes. China - Europe prices came down to about $4.25/kg after surpassing the $5.00/kg level earlier in the month and transatlantic prices are down to $2.30/kg from an early-December high of $3.16/kg.

Dec 25  - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Total Freight
Railway logistics:
Rivne region. - Yahodyn (border) 14$
Rivne region. - Coast (port) 19$

- AUTOMOTIVE LOGISTICS
From December 1 to December 23, the volume of agricultural exports by road amounted to 234.5 thousand tons, which is 9.7% less than the same period in November. A decrease in agricultural products was observed at all borders. The largest drop was recorded at the Slovak and Romanian borders, where exports of agricultural products decreased by 23.4% and 14.8% - to 13.24 thousand tons and 60.6 thousand tons, respectively.
On the Moldovan border, the volume of agricultural exports decreased by 14.1% - to 37.89 thousand tons. The smallest drop was recorded at the Hungarian and Polish borders: agricultural products missed by 4.9% and 2.9% - to 26.59 thousand tons and 96.25 thousand tons, respectively.
The highest export rate for the relevant period was recorded for sunflower oil - 24.9 thousand tons, as well as for poultry - 15.9 thousand tons.
The cost of transportation within the country has not undergone changes compared to last week, at the same time, the prices for European routes decreased by 3-5€ depending on the direction.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @87-117€
· Ternopil region - center. Bulgaria @75-86€
· Cherkasy region. - Pd. Romania @73-80€

- RAILWAY LOGISTICS
As of 19.12 on the western borders of Ukraine there is a decrease in the average daily transfer of cars at all borders.
The most significant drop compared to November was recorded at the Romanian border, where the rate decreased by 83.32% - up to 1.89 to weights/day. This is due to the investigative actions of the law enforcement body, which already last more than a month, which is why exports are partially blocked. In the Hungarian direction, the corresponding figure decreased by 16.55% to 46.95 weights/day. At the Polish and Slovak borders there was a slight decrease in the transmission of cars - up to 44.99 weights / day and 37.5 weights / day, respectively.
The total average daily transmission of grain cargoes and meal is 204 weights / day.
In the ports of Odessa, the average daily unloading of wagons for a week decreased to 1,211 weights / day. The number of wagons heading towards deep-sea ports increased by 9.55% to 8,462 units.
In the port of Izmail, the accumulation of wagons with grain increased by 5.88% - up to 522 units. However, the average daily unloading of cars decreased by 9.38% - up to 58 weights / day. Rates for rail transportation remain at the level of the previous period.

- WATER LOGISTICS
During the week, the market for freight rates for sea transportation from the ports of Greater Odessa remained stable, despite the decline in grain exports by sea. In the Danube ports, there was a slight decrease in the cost of transportation in certain directions, in particular, to Italy, where the rates decreased on average by 1-2$/t, to 27-29$/t.

Dec 25 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: Azov sea market is getting weaker further. The vessels are heavily delaying due to bad weather and the trade is very slow. Many open positions on the market for the beginning of January looking for employment. Some traders discuss levels below usd 20 pmt fiost bss usual 5'k grain products order ex Yisk to Marmara and so far market does not show signs of improvement, especially when long holidays are almost here. Russia is on holidays from the 29th of December 2024 till the 8th of January 2025.

BALTIC SEA: Baltic sea market is holidays this week.

FAR EAST: The market remains stable nowadays.

CASPIAN SEA: The Caspian Basin is going through difficult times. Iranian buyers, in the conditions of market instability, prefer to refrain from concluding new contracts, waiting for better prices and favorable offers. The situation is complicated by the increase in export duties on corn and barley, which forces exporters to reduce freight rates to ship owners. Astrakhans' ports are currently unable to offer to shipowners enough alternative cargoes. At the same time, Kazakhstan continues to demonstrate stable barley exports to Iran, despite the difficulties in the region. However, a difficult situation is developing at the terminals in Aktau, which are located in the north: ships are forced to wait their turn for loading, abt 7-10 days.

Dec 23 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 4% to $4,452/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 2% to $5,932/FEU.
- Asia-N. Europe prices (FBX11 Weekly) fell 2% to $4,971/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 1% to $5,721/FEU.

Transpacific ocean rates increased slightly last week and are about 15% higher than at the start of December on successful mid-month GRIs.
Rate increases and reports of full vessels this far ahead of Lunar New Year probably reflect shippers continuing to pull forward volumes ahead of President-elect Trump’s promises of tariff increases next year – with Trump this week proposing the US should reclaim the Panama Canal in response to growing Chinese influence there.

Carriers are hoping the addition of pre-LNY demand in January will support further rate hikes to start the new year on GRIs of $1,000 - $3,000/FEU. Despite strong volumes and some signs of strain on rail, operations at US ports remain smooth and operators report being prepared for further volume increases.

Transatlantic rates, which have been stable since about mid-October, may also increase in January as some carriers have announced disruption surcharges for mid-month in anticipation of an ILA port worker strike.  Some are also expecting the February alliance reshuffle to cause some disruptions, with MSC announcing a $2,000/FEU disruption charge starting January 18th for transatlantic containers.

Asia - Europe and Mediterranean container rates have eased 3% - 7% from levels reached on early December GRIs, with no noticeable mid-month increases despite schedule disruptions from recent bad weather leading to some moderate congestion at some European hubs.

For all these lanes though, Red Sea diversions are still the biggest contributor to rates that remain at least double their level a year ago. And though no military intervention has succeeded in restoring security for passing vessels yet, both Israel and the US have increased direct strikes on Houthi positions in recent days.

Dec 23 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices fell 19% to $5.86/kg.
- China - N. Europe weekly prices increased 40% to $4.92/kg.
- N. Europe - N. America weekly prices decreased 9% to $2.75/kg.

In air cargo, Freightos Air Index data show that transpacific and transatlantic rates have started to ease from highs earlier in the month as the end of peak season approaches, with China - Europe prices still elevated last week at almost $5.00/kg.

Some observers expect frontloading ahead of US tariffs to help keep air cargo demand and rates up into the new year. And significant tariffs on Chinese goods could also contribute to stronger overall global air cargo volumes as intra-Asia shipments of Chinese components may increase significantly.

Dec 20 - China's Nov soy imports from Brazil falls 25% y/y, US arrivals jump
China's soybean imports from Brazil shrank 25% in November from a year earlier, while shipments from the United States rose as buyers concerned about rising trade tensions between Washington and Beijing raced to secure supplies. The world's largest soybean buyer received 2.79 million metric tons of U.S. soybeans in the month, compared to 2.29 million tons a year ago, according to the General Administration of Customs data.

Dec 20 - Tunisia buys 100,000 T soft wheat, 100,000 T durum, traders say
Tunisia's state grains agency is believed to have purchased about 100,000 metric tons of soft wheat and about 100,000 tons of durum in an international tender for the same volume on Thursday, European traders said. The soft wheat was believed to have been bought at the lowest price of $255.39 a ton cost and freight included for 25,000 tons from trading house Viterra, traders said.

Dec 19 - Amazon workers strike at seven US facilities ahead of Christmas rush (Reuters)
- Amazon.com workers at seven U.S. facilities walked off the job early on Thursday during the holiday shopping rush, aiming to pressure the retailer into contract talks with their union.
Warehouse workers in cities including New York, Atlanta and San Francisco are taking part in the "largest" strike against Amazon, said the International Brotherhood of Teamsters, which represents about 10,000 workers at 10 of the firm's facilities

Dec 19 - French wheat export forecast cut to lowest in decades
Farm office France AgriMer on Wednesday slashed its forecast for French soft wheat exports outside the European Union this season to the lowest since the start of the century, reflecting a dearth of demand from North Africa and China. A poor harvest, with the lowest volumes since the 1980s and mixed grain quality, had been widely expected to squeeze French wheat exports in 2024/25, but they have been further stifled by stiff competition from Russia and a lull in Chinese imports.

Dec 19 - Ukraine exported 6.0 mln metric tons of grain via Romania's Constanta in Jan-Nov
Ukraine's grain exports through the Romanian Black Sea port of Constanta in the first 11 months were down by 54% from a year earlier to 6.0 million metric tons, the port authority said. The drop reflects Kyiv's reliance on its own ports despite Russian attacks on shipping and infrastructure though Constanta remains Ukraine's main alternative export route for grains since Russia launched its full-scale invasion in February 2022.

Dec 18 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov Sea market is quite weak this week, with several vessels seeking employment. There are only a few cargo opportunities available, prompting owners to be open to negotiating freight rates. Inclement weather conditions are affecting both the Black and Azov seas. Market participants do not anticipate any strengthening of the market until after the New Year holidays.

BALTIC SEA: The Baltic sea market is still pretty firm with a number of cargo orders on the market.

FAR EAST: The market has remained stable, with minor fluctuations this week.

CASPIAN SEA: The Caspian basin market is still in tension. The reduction in traffic volumes has led to another reduction in freight rates, especially in the direction of Iran. Bad weather conditions make it difficult to work in the region. This week, strong winds and ice conditions in the Caspian Sea have significantly complicated navigation. In this regard, the port administration was forced to introduce icebreaking assistance. Against the background of general instability, barley supplies from Kazakhstan stand out as a positive trend. Despite the general decline in the region, the situation with grain exports remains stable. There is congestion at the northern terminals of the Aktau port, which indicates high demand. The average waiting time is 7-10 days.

Dec 18 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Traded freight
Railway logistics (eurohopper):
Dorohusk, Poland - Mon-Sun Germany (Jan-Feb 2025) @35.60€

- AUTOMOTIVE LOGISTICS
During the first half of December, the volume of agricultural exports by road almost corresponded to the indicator of November and amounted to 180 thousand tons. During the corresponding period, at the Polish and Hungarian borders, there was an increase in the volume of road transport by 10% and 14.5% - up to 74.28 thousand tons and 22.11 thousand tons, respectively.
At other borders, a decrease in agricultural production is recorded. The largest drop was observed at the Romanian and Moldovan borders, where exports of agricultural products decreased by 12.7% and 10.5% - to 45.47 thousand tons and 26.68 thousand tons, respectively. In the Slovak direction, the decline was not so significant - by 4.6%, to 11.46 thousand tons.
The leaders of exports in the first half of December were sunflower oil (20.6 thousand tons), and poultry meat (12 thousand tons).
Prices for road transport within the country decreased by an average of $ 2 compared to last week, the rates on European routes retain their level.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @87-117€
· Ternopil region - center. Bulgaria @78-86€
· Cherkasy region. - Pd. Romania @73-80€

- RAILWAY LOGISTICS
From February 1, 2025, Ukrzaliznytsia will index tariffs for freight transportation by 37%. The change will apply to all classes of goods and is associated with the need to ensure stable operation of the railway infrastructure, financing repairs and maintaining operational efficiency. For the agricultural sector, the impact on logistics costs will be moderate: an increase in the transport component in the value of grain cargoes is projected at about 1.4%.
The cost of railway transportation on domestic routes has been reduced by 1$ compared to the previous period.
Rates of railway freight from Chop in the direction of Eastern Italy for the period of transportation to May fluctuate between 40-42€ per ton. The first indications for the new 2025 harvest in the Italian direction are 5€ higher than the current one.
Rates of European freight from Dorohusk to Northern Germany were traded at 35-38€ per ton.
Agricultural producers in Ukraine began to record sales of new rapeseed crop in the direction of Germany and soybeans — on the Italian market.

- WATER LOGISTICS
The decrease in grain export rates by sea has adversely affected freight rates in some areas. The cost for coasters from the ports of the Danube to eastern Italy decreased by 1$/t. The rates for handicaps from the ports of Big Odessa in the same direction - to Italy - decreased on average by 2$/t.

Dec 18 - India plans up to 25% temporary tax to curb cheap Chinese steel imports
India is likely to impose a "safeguard duty" or temporary tax of up to 25% on steel imports, industry and government sources said, to help to curb cheap imports from top producer China. The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal on Tuesday after small industries dropped initial opposition once they received assurances that they would not be hit by higher steel prices.

Dec 18 - South Korea’s FLC buys about 66,000 T corn, traders say
South Korea's Feed Leaders Committee (FLC) purchased about 66,000 metric tons of animal feed corn to be sourced from optional origins in an international tender on Tuesday, European traders said. The corn was purchased at an estimated $235.99 a ton cost and freight included plus a $1.50 a ton surcharge for additional port unloading, they said.

Dec 17 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 10% to $4,301/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 13% to $5,814/FEU.
- Asia-N. Europe prices (FBX11 Weekly) decreased 5% to $5,051/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 2% to $5,761/FEU.

Asia - Europe/Mediterranean container rates ticked down slightly last week, though mid-month GRIs will attempt to push rates up soon. But current rates of more than $5,000/FEU remain very elevated. Prices are 12-18% higher than at the end of November and more than 40% higher than in October due to the Red Sea diversion-driven early start to pre-Lunar New Year demand this year. This volume increase is combining with some bad weather in the Far East to cause congestion at some container hubs in Japan and China.

Transpacific rates rebounded by more than 10% last week and GRIs are expected on this lane as well. Even with last week’s gains though, prices remain lower than at the end of November. But relative to Asia - Europe, transpacific rates have shown more buoyancy since the end of peak season due to frontloading ahead of a possible ILA strike on January 15th and expected tariff increases with the incoming Trump administration.

The pull forward for the strike is likely exhausted by now as the pre-January 15th arrival window has closed. But President-elect Trump’s recent explicit backing of the ILA and its opposition to even semi-automation introductions at these ports may make a strike, or at least a prolonged one, much less likely to happen. Anticipation of tariff hikes next year is likely still driving some unseasonal volume strength, also reflected in reports of a shortage in reefer containers.
You can check out our full 2025 Ocean Preview here.

Dec 17 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 8% to $7.30/kg.
- China - N. Europe weekly prices dipped 5% to $3.51/kg.
- N. Europe - N. America weekly prices fell 4% to $3.03/kg.

In air cargo, IATA reports global capacity reached a record high this year. But with record volume strength so far this year – primarily driven by surging B2C e-commerce volumes – it also projects that constraints on capacity growth could cap volume growth next year.

This new source of demand has kept capacity out of China tight and export rates at peak season levels throughout the year for these lanes. Recent shifts of capacity from lower-volume trades like the transatlantic to the transpacific to accommodate peak season demand – as well as increase in shippers routing more ex-Asia, North America-bound volumes through Europe – have led to rate hikes on these routes as well.

Freightos Air Index transatlantic rates of $3.03/kg last week were 88% higher than at the end of September. But volume growth projections for next year are mostly based on expectations of continued e-commerce volume growth. Some stakeholders think growing opposition to this flood of low cost goods exports from China – including a recent proposal from the EU – could curb this growth rate or even see this segment contract.

Dec 17 - Syria's ports working normally as Ukraine looks to supply staple foods
Syria's main ports are working normally after days of disruptions, maritime officials said on Monday, and Ukraine said it was in touch with the interim government about delivering staple foods. President Bashar al-Assad was ousted on Dec. 8 by insurgent forces led by the Islamist group Hayat Tahrir al-Sham.

Dec 17 - Mosel river in Germany partially reopens to shipping, sailings limited
The Mosel in west Germany was partially reopened to cargo shipping on Monday after a temporary lock was installed over the weekend, but the number of vessels able to sail will be limited, navigation authorities said. The river, an important transit route for grains and rapeseed between Germany and France, was closed to inland waterways shipping last week after an accident which damaged a lock at Mueden south of Koblenz and repairs are likely to last until spring 2025.

Dec 16 - Ukrainian grain transit through the port of Constanta decreased by 52% in 2024 (APK-Inform )

Romanian port of Constanta at the end of the first ten months of 2024 reduced the transshipment of transit cargoes of Ukrainian grain by 52% against the indicator of the same period last year - to 5.66 mln tonnes against 11.7 mln tonnes last year, reports Mind.

As noted, Constanta began to lose cargo traffic of Ukrainian grain a few months after the opening of the Ukrainian Sea Corridor, when the shipping traffic to the ports of Great Odessa stabilized. The drop became noticeable in the first quarter of 2024, when the volumes “sagged” by a third - to 2.16 mln tonnes. According to the results of the first half of the year, the trend intensified - the indicator decreased by 43.5% to 4.24 mln tonnes.

The transit flow decreased especially significantly in the second quarter - down to 930 thousand tonnes.

Dec 16 - Russian grain exports to Syria suspended due to uncertainty
Russian wheat supplies to Syria have been suspended because of uncertainty about the new government and payment delays, Russian and Syrian sources said on Friday, while two vessels carrying Russian wheat for Syria did not reach their destinations. Russia, the world's largest wheat exporter, was a staunch supporter of Bashar al-Assad and supplied wheat to Syria through complex financial and logistical arrangements, circumventing Western sanctions imposed on both Syria and Russia.

Dec 16 - Brazil's robusta coffee state expects to repeat large exports in 2025
Brazil's top robusta coffee producer, the state of Espirito Santo, expects to repeat in 2025 the large export volume it achieved this year, when the country became an alternative for supplies from Vietnam, the world's largest robusta grower. Espirito Santo state accounted for 6.6 million bags of the total Brazilian robusta exports of 8.7 million bags from January to November, according to the Coffee Commerce Center of Vitoria, the industry group gathering market participants in the state.

Dec 13 - Russia bans sunflower, corn seeds imports from four countries
The Russian agricultural watchdog has banned imports of sunflower and corn seeds from companies in Chile, France, Hungary, and Turkey, it said on Thursday, in line with Moscow's policy to reduce dependency on seed imports. Over the last decade, Russia has become a major agriculture exporter and is striving to become a global agricultural superpower.

Dec 13 - Export demand may push Ukraine wheat prices up in Dec-Jan, producers say
The volume of wheat export contracts from Ukraine in December totals 1.1 million metric tons and high demand from exporters may increase prices by $20 to $25 per ton in December-January, major Ukrainian agricultural producers' union UAC said. The union said late on Wednesday traders had exported 136,000 tons of Ukrainian-origin wheat in the first nine days of December.

Dec 12 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
During the first 9 days of December, the volume of agricultural exports by road from Ukraine, compared to the same period in November, decreased by 4.6% - to 100.48 thousand tons. The largest changes in the flow of freight traffic occurred at the Romanian border, where the export of agricultural products decreased by 24.4% - to 26.1 thousand tons. Also, the decline was observed in the Moldovan direction: the volume of road transport decreased by 6.8% - to 14.78 thousand tons.
At the same time, the Polish and Hungarian borders recorded an increase in the volume of road transport by 10.4% and 7.4% - up to 41.07 thousand tons and 11.8 thousand tons, respectively. On the Slovak border, the flows of agricultural exports remained virtually unchanged and amounted to 6.71 thousand tons.
The largest export rate fell on sunflower oil - 10.52 thousand tons, as well as poultry meat - 7.12 thousand tons.
Prices for transportation in the direction of European countries remain stable, while the cost of domestic road transport decreased by 2-3$ compared to the previous period.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @87-117€
· Ternopil region - center. Bulgaria @78-86€
· Cherkasy region. - Pd. Romania @73-80€

- RAILWAY LOGISTICS
As of 09.12, the market of railway transportation of grain showed mixed tendencies: reduction of carriage transmission through most border crossings, while increasing traffic towards the ports of Big Odessa and reducing the accumulation of wagons in ports.
At the Polish and Hungarian borders, the carriages were reduced by 19.04% and 9.33% to 37 weights/day and 51.01 weights/day, respectively. At the Romanian border, this figure decreased by as much as 66.9% — to 3.75 scales/day. Such a significant reduction was the result of investigative actions of law enforcement agencies that partially blocked grain exports through this direction. At the same time, at the Slovak border, the rate of carriage transfer increased by 5.92% - up to 50.25 weights/day. The total average daily transfer of wagons across all borders decreased by 6.58% - up to 213 weights / day.
The number of wagons heading towards the ports of Greater Odessa increased by 8.9% - up to 7,822 units. The average daily rate of unloading wagons decreased by 1.4% - up to 1,193 weights / day. The accumulation of wagons in the port of Izmail decreased by 22.17% - to 618 units. The average daily discharge index decreased by 27.91% - up to 62 weights/day.
The rates for transportation of grain cargoes during the last week remain unchanged.

- WATER LOGISTICS
At the end of the year, there is usually an increase in demand for sea transportation, which leads to higher prices. However, the introduction of new export rules from 01.12 creates uncertainty and affects the usual market trends.
Freight rates for the hendisayzov from the ports of Big Odessa to the east coast of Italy and Spain on average decreased by 1$. Rates for barges and coasters for transportation from the ports of the Danube remain stable.

Dec 12 - NITRO Shipping Weekly Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market is weak. Owners are looking for right employment in advance trying to secure present freight levels for later dates. Traditionally, vessel owners prefer long leg voyages (East Med) for the vessels opening during the 3rd decade of December to avoid opening during long Russian holidays. Market players expect to see the amount of export duty for January to plan shipment accordingly.

BALTIC SEA: The Baltic sea market remains active. A lot of cargoes on the Baltic and Continent on the market are looking for right vessels and charterers have to pay up a bit to secure tonnage.

CASPIAN SEA: The Caspian Basin market is facing significant challenges due to a drop in spot market activity driven by new documentation requirements for export cargo ex Astrakhan, a rising ruble exchange rate, and Iranian buyers' hesitance to finalize contracts amid expectations of falling Russian grain prices.

FAR EAST: The market has remained stable this week.

Dec 12 - Jordan buys about 60,000 T feed barley in tender, traders say
Jordan's state grain buyer bought about 60,000 metric tons of animal feed barley in an international tender on Wednesday, European traders said. It was said to have been bought from trading house Viterra at an estimated $249.99 a ton cost and freight  included for shipment in the second half of January 2025.

Dec 12 - Group in Thailand bought around 63,000 T feed wheat, traders say
An animal feed importer group in Thailand is believed to have purchased around 63,000 metric tons of animal feed wheat in a tender which closed on Wednesday seeking up to 120,000 tons, European traders said. Price was estimated at around $256 a ton cost and freight liner out with the wheat expected to be sourced from South America.

Dec 11 - Introduction of new export regulations in Ukraine creates uncertainty in the maritime transportation market (APK-Inform)

Towards the end of the year, there is usually an increase in demand for sea transportation, which leads to higher prices. However, the introduction of new export regulations in Ukraine from December 1 creates uncertainty and affects the usual market trends. This was stated by experts of Spike Brokers.
“Freight rates for handysize from Great Odessa ports to the east coast of Italy and Spain for last week on average decreased by $1. Rates for barges and costers for transportation from Danube ports remain stable,” - is indicated in the message.

As specified, as of December 11, market rates of transportation from the port of Izmail were as follows:
- Romania - 9-10 EUR (1-3 thousand tonnes);
- East coast of Italy - $30-31 (5-7 thousand tonnes).

Dec 11 - Russian wheat Egypt bought in September finally on way

A first shipment of 66,000 metric tons of Russian wheat out of the 430,000 that Egypt bought in September left the port of Novorossiisk on Tuesday after delays, an Egyptian source with direct knowledge of the matter said, confirming LSEG shipping data reported earlier by Reuters. Egypt's Ministry of Supply said in September that its General Authority for Supply Commodities had contracted 430,000 tons of Russian wheat for October shipment.

Dec 11 - EU 2024/25 soft wheat exports down 29% by Dec 8
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 10.24 million metric tons by Dec. 8, down 29% from 14.41 million tons a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 2.03 million tons, down 43% from 3.11 million tons in the corresponding period of 2023/24.

Dec 10 - China Nov copper imports hit one-year highChina's November copper imports hit a one-year high, customs data showed, fueled by firm demand and lower inventories, as well as more shipments from Africa. Imports of unwrought copper and products stood at 528,000 tons last month, up 4.3% from October's imports, data from the General Administration of Customs showed.

Dec 10 - China Nov iron ore imports drop on expectation of weak seasonal demand
China's iron ore imports in November fell 1.91% from October, customs data showed, as shipments slowed ahead of the slow season for steel demand when colder weather disrupts construction work in the country's north. The world's largest iron ore consumer imported 101.86 million metric tons of the steelmaking ingredient last month, data from the country's General Administration of Customs showed.

Dec 09 - Russia raises wheat export duty by nearly a third
Russia, the world's largest wheat exporter, will raise its wheat export duty by almost 32%, the government said on Friday, as the country seeks to curb exports in the face of high inflation and potential supply crunch due to the poor state of winter crops. The duty has been climbing since mid-August from a level as low as 257 roubles to 4,871.5 roubles per ton, but so far has failed to hinder exports, which have been proceeding at a near record pace in recent months.

Dec 09 - Indonesia to import corn, raw sugar in 2025 for industrial use amid food self-reliance push
Indonesia will import 900,000 metric tons of food-grade corn and 3.4 million tons of raw sugar in 2025, senior minister overseeing food affairs Zulkifli Hasan said, adding that imports were only for industrial raw materials. The import announcement comes as Indonesia has set a target to reach food self-reliance in the next four years under the presidency of Prabowo Subianto, who took office in October.

Dec 06 - Dire Russian crop health and Ukraine export risks threaten Black Sea wheat: Braun
New contract lows in Chicago wheat futures this week are hardly indicative of global supply concerns, but traders might want to eye what's happening in the Black Sea region more closely. Winter grains in top wheat exporter Russia are in the worst-ever condition, and Ukraine’s current shipping capabilities could soon come under threat.

Dec 06 - Vietnam rice exports in Nov up 16.3% y/y, statistics office says
Vietnam exported 698,000 metric tons of rice in November, up 16.3% from the same month a year earlier, government data released showed. For the January-November period, the country exported 8.45 million tons of rice, up 10.6% from the previous year.

Dec 05 - Grains for gold: Indian export curbs drive boom in barter smuggling.
Guards on either side of a border checkpoint between India and Bangladesh scour vehicles and frisk passengers in a hunt for illicit consignments of gold and drugs, as well as food staples such as sugar, grain and even onions. "We caught smugglers in August who were transporting sugar concealed beneath a layer of sand in their vehicle," said an officer of India's Border Security Force in the northeastern city of Shillong, who sought anonymity.

Dec 05 - Ivory Coast cocoa exporters fear drop in supplies after poor weather.
Multinational cocoa exporters operating in Ivory Coast, the world's top cocoa producer, fear a drop in supplies from farmers in the coming months after adverse weather hit crops, raising the prospect that some of them might default on contracts. So far this season, the volume of beans arriving at ports is up 34% on the same time in 2023-24

Dec 04 - NITRO Weekly Shipping Freight Report For Grains

- AZOV SEA & BLACK SEA: The Azov sea market continues this week's long lasting falling trend. Owners are eager to fix their prompt opening vessels and are ready to discuss rates. Not many cargoes circulated on the market, but were fixed with close owners.

- BALTIC SEA: High season on the Baltics. A lot of cargos on the market are waiting to be fixed. Owners are shooting high levels in a hope to get maximum out of the high season. Owners ask high 40's - 50 eur pmt fiost bss 3'k flax seeds (sf 56') from St.Petersburg to Ghent in prompt. High levels are expected to last at least several weeks onwards.

- FAR EAST: The market is stable. Exporters show low activity due to delays caused by the railway.

- CASPIAN SEA: The export market continues to face serious difficulties caused by a number of factors that aggravate the situation for exporters. One of the main factors is the increase in the export quota, which leads to a reduction in the volume of shipments. An equally important challenge for exporters has become the complication of the process of registration of cargo documents. Many shipowners are trying to fix vessels for consecutive voyages in the winter period, but from February 15, the decision to introduce a 0% quota for the export of corn and barley comes into force. This decision has raised concerns among exporters, as stopping or reducing the export of these crops threatens their work in future in the market. Given global competition, this measure seems risky, and few exporters are willing to face the uncertainty it brings. Kazakhstan also continues to successfully compete with Russia in barley exports, offering more competitive terms for Iranian buyers.

Dec 04 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In November, exports of agricultural products from Ukraine by road decreased by 11.7% compared to October, amounting to 339.7 thousand tons. The largest reduction was recorded at the borders with Romania and Poland, where export volumes fell by 20.6% to 92.1 thousand tons and by 12.9% to 130.9 thousand tons, respectively. On the Slovak border, volumes decreased by 5.8% to 23 thousand tons, and on the Hungarian border - only by 1% to 38.2 thousand tons. At the same time, exports through the Moldovan border remained at the level of October - 55.6 thousand tons.
The main export goods in November were sunflower oil (47.2 thousand tons) and soybeans (24.5 thousand tons).
The domestic market of road transport in Ukraine remains stable. A number of factors, in particular, the constant level of fuel prices, contribute to the preservation of rates at the level of the previous period. At the same time, the increase in queues at the borders has led to an increase in tariffs for international transportation by an average of 1-2 euros depending on the direction.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @87-117€
· Ternopil region - center. Bulgaria @78-86€
· Cherkasy region. - Pd. Romania @73-80€

- RAILWAY LOGISTICS
On the western borders of Ukraine in November, a decrease in the average daily transfer of cars compared to October by 5.76% - up to 228 weights / day was recorded. The most significant reduction in the volume of transmission of cars was observed at the Romanian border, where the figure fell by 71.79% - up to 11.33 weights / day. At the Polish border also recorded a reduction in the transmission of the car by 1.74% - up to 45.7 weights / day. At the same time, Hungarian and Slovak borders increased their positions by 10.88% - to 56.26 weights/day and by 11.34% - to 38 scales/day, respectively.
Over the past week, the number of wagons heading to the deep-sea ports of Ukraine has decreased by 12.56%, amounting to 7,183 units. The average daily discharge rate decreased by 2.58% - up to 1210 weights / day. The accumulation of wagons with grain in the direction of the Izmail port decreased by 1.98% - to 794 units. At the same time, the average daily volume of unloading at the port itself increased by 24.64% - up to 86 weights/day.
The situation in the railway market of Ukraine is characterized by the surplus of wagons due to the general reduction in cargo traffic. Restrictions in the electricity supply of railway infrastructure caused by missile strikes on the power system further reduce the throughput to ports. The cost of transportation has been reduced compared to the previous period.

- WATER LOGISTICS
Freight rates for shipping by sea from the ports of the Danube and Bolshaya Odessa in general remained stable for a week. Only the shipping freight from deep-sea ports to the east coast of Spain decreased by 1$/t. Trade activity is gradually increasing, but the excessive amount of free tonnage in the market continues to create pressure on shipowne

Dec 04 - Ukraine oilseed exports fall in November, traders union says
Ukraine, the world's major producer and exporter of oilseeds and vegetable oils, cut exports of major oilseeds in November amid falling stocks and falling prices, data from the Ukrainian grain traders union UGA showed on Tuesday. The Ukrainian farm ministry does not usually report data on the country's oilseed and vegetable oil exports.

Dec 04 - EU 2024/25 soybean imports up 12% by Dec 1, rapeseed up 4%
European Union soybean imports so far in the 2024/25 season that started in July had reached 5.46 million metric tons by Dec. 1, up 12% from the 4.86 million tons a year earlier, data published by the European Commission showed on Tuesday. EU rapeseed imports in the same period totalled 2.49 million tons, up 4% from a year earlier, while soymeal imports were up 29% at 8.15 million tons.

Dec 03 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 4% to $4,905/FEU.
- Asia-US East Coast prices (FBX03 Weekly) climbed 13% to $6,095/FEU.
- Asia-North Europe prices (FBX11 Weekly) were level at $4,491/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) rose 6% to $5,135/FEU.

Some frontloading ahead of a possible ILA port strike after January 15th and expectations of tariff increases next year have kept transpacific ocean rates elevated to start December, with rates to the West Coast – even before the Lunar New Year 2025 rush – already above their pre-LNY 2024 highs seen back in January at the start of the Red Sea crisis. Some carriers are reportedly introducing significant GRIs to try and push rates higher to start the month.
- But the arrival window to move shipments from Asia to the East Coast before the strike deadline is closing, a significant amount of inventories were already built up from frontloading ahead of the October strike, and there is likely still a runway of at least several months before tariffs go into effect. These factors may make early December rate increases difficult to sustain, though prices could increase later in the month or early in January ahead of Lunar New Year.
Asia - Europe rates were level last week but have started to climb so far this week, and daily prices to the Mediterranean are approaching the $6,000/FEU mark on December GRIs for a $1,000/FEU gain compared to the end of November.
- If these increases hold, they may reflect a combination of effective capacity management by carriers through an increase in blankings and an early start to pre-Lunar New Year demand. Ensuring necessary orders are moved before LNY is especially important for shippers to the Mediterranean who have the longest additional lead times due to continued Red Sea diversions and, if they miss that pre-holiday window, will face a long wait for new shipments to arrive.
- Carriers continue to announce adjustments to their services that will go into effect with the alliance reshuffle in February, with MSC adding more port pairs to its stand alone services, and the Gemini Cooperation already accepting bookings for its new hub and spoke model.

Dec 03 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 4% to $6.62/kg.
- China - N. Europe weekly prices fell 10% to $3.63/kg.
- N. Europe - N. America weekly prices increased 2% to $2.81/kg.

Freightos Air Index data show that ex-China rates to N. America and Europe have still not spiked, even as we enter the key peak season weeks for early December. In addition to some shippers’ and forwarders’ frontloading and securing capacity in advance, another important reason for the relatively tame peak season despite still-surging e-commerce volumes is carriers’ significant shift of freighter capacity to ex-Asia lanes in time for Q4.
 
And with that capacity being moved from lower-volume lanes, prices on those trades are increasing. Transatlantic rates pushed past $2.80/kg last week, 33% higher than a year ago and its highest level since April 2023.

Dec 03 - Russian wheat export prices flat for the second week amid low demand
Russian wheat export prices remained flat for the second week in a row amid low demand and export restrictions in the Russian market, analysts said. Dmitry Rylko, head of the IKAR consultancy, said the price of Russian wheat with 12.5% protein, set for free-on-board (FOB) delivery in the second part of December, was $226 per metric ton at the end of last week, unchanged from the previous week.

Dec 03 - Egypt PM reviews wheat procurement amid GASC's absence
Egyptian Prime Minister Mostafa Madbouly held a meeting on Monday to assess the country's wheat procurement efforts, without the participation of Egypt’s primary state grain buyer, a cabinet statement on Monday showed. Among the attendees, however, was Brigadier General Bahaa El-Ghannam, Executive Director of the Mostakbal Misr Agency for Sustainable Development, which has recently emerged as a player in Egypt’s wheat procurement landscape and was seen as “sidelining” the General Authority for Supply Commodities (GASC).

Dec 02 - Russia cuts wheat exports among measures to curb inflation
Russia, the world's largest wheat exporter, cut its 2025 export quota by two-thirds, hiked wheat-export duties and abandoned import quotas for some staple foods on Friday as the government moved to curb inflation. The Eurasian Economic Union Council said Russia's export quotas for the second part of the export season from Feb. 15 to June 30, 2025, will be 11 million metric tons, down from 29 million tons in the same period this year.

Nov 29 - China's scrap copper imports set to slump over US trade worries, analysts say
China's imports of scrap copper are set to slump as some traders have suspended buying from the United States, the top supplier, due to worries about rising trade tensions under a Donald Trump presidency, analysts said. Trump, who takes office in January and has threatened tariffs of 60% on Chinese imports, on Monday pledged to impose "an additional 10% tariff" on imports from China, raising the prospect of retaliatory measures from Beijing.

Nov 29 - Turkey provisionally sells 150,000 T barley in export tender, traders say
Turkish state grain board TMO is believed to have provisionally sold an estimated 150,000 metric tons of barley in an export tender for the same volume on Thursday, European traders said. The sale depends on final approval in coming days. Tender volumes can be changed or cancelled completely.

Nov 28 - Brazil grain barge shipping returns as Amazonian drought subsides
Transportation of soybeans and corn on barges along the Brazilian Amazon's Tapajos River, which had been suspended in early October due to dry weather, resumed at 50% capacity this week, operators said on Wednesday. Shipping began again on that waterway, which receives grain cargos from Brazil's biggest farm state Mato Grosso and nearby areas, as rain raised river levels, said Amport, an association representing port terminals and cargo transshipment operators of the Amazon basin.

Nov 28 - Tunisia buys 100,000 T soft wheat, 100,000 T durum, traders say
Tunisia's state grains agency is believed to have purchased about 100,000 metric tons of soft wheat and about 100,000 tons of durum in an international tender for the same volume on Wednesday, European traders said. Traders said the soft wheat and durum were both bought in four 25,000 ton consignments from optional origins.

Nov 28 - Algeria bought 140,000 to 150,000 T wheat in 2 port tender, traders say
Algeria’s state grains agency OAIC is believed to have bought about 140,000 to 150,000 metric tons of milling wheat in an international tender on Tuesday which sought limited shipment to two ports only, European traders said on Wednesday. Traders had reported the purchase on Tuesday evening but not been able to give assessments of tons bought.

Nov 27 - NITRO Shipping Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market is getting weaker further. Traders say buying activity is low even though the usd / rub exchange rate is very attractive for export. Owners are looking for long leg voyages to the East Med region as the rates below usd 30 pmt fiost bss 3'k wheat ex Rostov to Marmara are not so attractive.

BALTIC SEA: The Baltic Sea market has strengthened considerably in recent weeks. Owners show eur 50 pmt fiost ex St.Petersburg to Ghent for 3’k flax seeds for prompt dates. Vessels are experiencing delays because of weather conditions, and charterers are actively selecting cargoes for COA as we approach the year's end.

CASPIAN SEA: The persistent market stress is causing a gradual decline in freight rates this week. Exporters are proceeding with caution, thoughtfully evaluating the current conditions rather than making hasty decisions.

FAR EAST: The market remained stable last week, with minor fluctuations

Nov 27 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 4% to $5,122/FEU.
- Asia-US East Coast prices (FBX03 Weekly) were level at $5,387/FEU.
- Asia-N. Europe prices (FBX11 Weekly) decreased 2% to $4,491/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 11% to $4,859/FEU.

- Late November is typically slow season for transpacific ocean freight. But through last week transpacific ocean rates remained level and elevated at more than $5,000/FEU since mid-October, with prices to the East Coast climbing past the $6,000/FEU so far this week.  This rate strength probably reflects some frontloading ahead of both a possible renewed ILA strike at East Coast and Gulf ports after January 15th and anticipation of Trump administration tariff increases next year.
- President-elect Trump threw some gas on the fire of shipper concerns over tariff hikes this week by announcing via social media, in response to illegal drugs and immigrants entering the US from Mexico and Canada, his intention to impose a 25% tariff on all imports from these countries on his first day in office in January. He also separately announced intention to impose a 10% tariff on all Chinese imports with no date specified.   
- In terms of Canada and Mexico, this announcement is an escalation of earlier Trump campaign statements that proposed 10% - 20% tariffs on all imports from all countries, is a significant development in terms of the intended timeline, and would break with the first Trump presidency’s USMCA trade agreement.
The trade acts that Trump relied upon for tariff introductions during his first administration stipulate processes that include initiations of inquiries, investigations by government offices like the US Trade Representative and periods of review, which can be expedited but are allotted up to a year. Trump’s paths to those previous tariff increases may make it unlikely that new tariffs will go into effect on January 20th, but this proclamation is certainly increasing the sense of urgency for shippers on these lanes.  
Just as transpacific shippers are already frontloading ahead of potential tariff changes next year, this statement will likely put pressure on importers from Canada and Mexico as well and could lead to increased cross-border volumes and road and rail rates ahead of the potential tariff roll outs.
- Authorities in Mexico are already rushing to increase container port and cross-border rail capacity to keep up with the rapid growth in trade with the US and the accompanied surge in imported components and goods from China to Mexico over the last few years.

- Just as the trade war with China since 2017 has led to some US importer diversification from China, these increases could slow the recent growth in Mexico-US trade. And in addition to higher volumes and transportation costs ahead of tariffs and lower demand just after, importers and ultimately consumers will likely face higher costs from the tariffs, especially for the top Mexico and Canada exports like vehicles, auto parts – which often go back and forth cross-border several times – and possibly fuel as Canada is the largest exporter of crude oil to the US.
- In the meantime though, despite the ocean volume strength of the last few months to hubs like LA/Long Beach, congestion remains minimal.  In Canada, recent lockouts of port labor on both coasts resulted in some backlogs that will take another couple weeks to resolve completely.  Those disruptions were ended by government order, and the sides have agreed to enter mediation rather than government-ordered arbitration. But the unions have submitted a challenge to the legality of the back to work order, which will be heard by the Industrial Relations Board in December.
- Asia - Europe ocean rates increased 30% on early November GRIs and have remained at about that level since then despite some attempted mid-month increases. Asia - Mediterranean prices did climb more than 10% in the last few days, and there are more reports of some rebound in demand possibly from an early start to the pre-Lunar New Year rush. Nonetheless, there is still a lot of skepticism that December GRIs aiming to push rates past $6,000/FEU will stick even with recent increases in blanked sailings and an early LNY. Some carriers have warned shippers on these lanes that prices will increase next year as new EU emissions regulations go into effect.

Nov 27 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 1% to $6.92/kg.
- China - N. Europe weekly prices stayed level at $4.02/kg.
- N. Europe - N. America weekly prices increased 6% to $2.75/kg.

- In air cargo, despite anticipation that this year’s peak season would be chaotic – as B2C e-commerce volumes have kept capacity tight and rates elevated throughout the year – ex-China prices have still not spiked and carriers report being busy but not overwhelmed even as December approaches. Capacity additions to these lanes and shippers who adjusted and planned ahead may prove to be enough to prevent extreme rate climbs and congestion through the end of the year.

Nov 27 - Algeria bought wheat in tender for shipment to 2 ports, traders say
Algeria’s state grains agency OAIC is believed to have bought milling wheat in an international tender on Tuesday which sought limited shipment to two ports only, European traders said. Initial estimates of purchase price were around $267 a metric ton cost and freight included, they said.

Nov 27 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house Cargill at an estimated $268.90 a ton cost and freight included for shipment in the second half of January 2025, they said.

Nov 26 - China sucks up seaborne thermal coal, but domestic output caps prices: RussellChina's seaborne imports of thermal coal are on track to surge to an all-time high in November as the world's biggest buyer of the power station fuel ramps up electricity generation. But the strong appetite for imports isn't driving up the prices of seaborne grades, which are being kept low by falling prices for China's domestic supplies.

Nov 26 - Russian wheat export prices flat last week, shipments fell
Russian wheat export prices remained flat last week, while shipments declined amid low demand and competition from other suppliers, analysts said. Dmitry Rylko, head of the IKAR consultancy, said that the price of Russian wheat with 12.5% protein, set for free-on-board delivery in December, was $226 per metric ton at the end of last week, unchanged from the previous week.

Nov 25 - Algeria issues tender to buy soft wheat for shipment to two ports only – traders
Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat for shipment to two ports only, European traders said on Sunday. The tender sought a nominal 50,000 metric tons but the shipment to two ports generally indicates a small purchase is planned, traders said.

Nov 25 - US bars more food, metal imports over China's alleged forced labor
The United States banned food, metals and other imports from about 30 more Chinese companies over alleged forced labor involving the Uyghurs, according to a government notice posted online on Friday. The new restrictions, covering a range of products from tomato paste and walnuts to gold and iron ore, are part of the federal government's effort to prevent goods made with forced labor from entering the United States, the Federal Register posting said.

Nov 22 - South Korea’s MFG buys up to 70,000 T corn in private deal, traders say
South Korea's Major Feedmill Group (MFG) purchased an estimated 65,000 to 70,000 metric tons of animal feed corn in a private deal on Thursday without issuing an international tender, European traders said. The purchase was expected to be sourced optionally from the United States or South America.

Nov 22 - South Korea's NOFI bought about 66,000 T corn in private deal, traders say
South Korean feedmaker Nonghyup Feed Inc. (NOFI) purchased up to 66,000 metric tons of animal feed corn in a private deal on Wednesday without an international tender being issued, European traders said on Thursday. It was expected to be sourced from either the United States or South America.

Nov 21 - Algeria buys durum wheat after talks on Wednesday, traders say
Algeria’s state grains agency OAIC is believed to have purchased a small additional volume of durum wheat in negotiations in an international tender which continued on Wednesday, European traders said. The tender had closed on Tuesday with some initial purchases reported.

Nov 21 - Algeria bought South American corn in tender, volume unclear, traders say
Algerian state agency ONAB is believed to have bought an unknown volume of animal feed corn to be sourced from Argentina or Brazil in an international tender for up to 240,000 tons which closed on Tuesday, European traders said on Wednesday. Some traders said at least one consignment of up to 40,000 tons was bought.

Nov 20 - NITRO Shipping Weekly Freight Report for Grains

- AZOV SEA & BLACK SEA: The Azov Sea market is experiencing a further decline in activity. Some traders are eager to get to mid-high 20's usd pmt fiost bss 3'k wheat ex Rostov to Marmara. Anticipated strong winds in the Azov and Black Sea regions at the end of this week could result in delays for vessels.

- BALTIC SEA: As the weather is getting worse in the region, the market started to firm up. Vessels are delayed and charterers are forced to pay up to get owners' interest. Traders plan their shipments to deliver before Christmas so the freight market is reacting accordingly with rates firming up.

- CASPIAN SEA: The current market conditions reflect significant stress, largely due to a considerable decline in river cargo availability, despite extended commercial navigation announced by authorities. Furthermore, reports from Iranian buyers suggest a lack of upward price movement for goods, which complicates the negotiation and signing of new contracts this week, intensifying the downward pressure on freight rates amidst the already stressed market conditions.

- FAR EAST: The market remains stable as a result of constrained supply due to limited shipments and a shortage of available vessels. This scenario is driving up demand and pushing freight rates higher.

Nov 20 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
During the first 18 days of November, 202.7 thousand tons of agricultural products were exported by road transport, which is 10% less compared to October. There is a decrease in export volumes at most borders. Thus, in the Romanian and Polish directions, exports decreased by 15.7% and 13.5%, respectively, to 57.2 thousand tons and 75.9 thousand tons. A decrease in the Slovak and Hungarian borders is less significant — 8.7% and 5%, which amounted to 13.5 thousand tons and 22 thousand tons. However, there is a positive dynamics on the Moldovan border — exports increased by 15%, reaching 34.2 thousand tons compared to October.
Among the main exported goods are sunflower oil (29.9 thousand tons) and soybeans (17.9 thousand tons).
Absence of queues at border crossings and stability of fuel prices allow to keep the cost of transportation by road at the level of the previous week.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @90-120€
· Ternopil region - center. Bulgaria @80-87€
· Cherkasy region. - Pd. Romania @72-83€

- RAILWAY LOGISTICS
As of 18.11 on the western borders of Ukraine there is a decrease in the average daily transfer of cars, which is 237 weights / day. At the same time, at the Slovak border, the indicators show an increase — the average daily carriages transmission reached 39.12 units, which is 14.63% more compared to October. A similar trend is observed at the Polish and Hungarian borders, where the average daily rates have increased to 49.06 and 52.29 weights. respectively. At the same time, the Romanian border recorded a record drop in transmission — by 50.92%, to 19.72 scales/day.
In the ports of Odessa the average daily unloading of wagons decreased by 1.95%, to 1308 units. At the same time, the number of wagons heading towards deep-sea ports remained stable at 7084 units as of 17.11.
In the port of Izmail, there is a positive dynamics: the volume of accumulated cars decreased by 15.18%, to 849 units, and the average daily discharge rate increased by 27.59%, to 74 wagons per day.
The reduction of shipments to the ports contributed to the correction of the upper limit of the cost of domestic rail transportation, which decreased by 1-2$ depending on the direction.

- WATER LOGISTICS
There is a decrease in freight rates in the water transport market, which is due to the low activity of the main players and the lack of spot orders. Falling rates covered all segments, with the exception of barges, which creates new opportunities for shipowners.
In particular, freight rates from the Black Sea ports in the direction of Egypt, the eastern coast of Italy and Spain decreased by 1-2$. Tariffs for transportation from Izmail ports were also reduced: by 2$ towards the east coast of Italy and by 1$ to Turkey.
At the same time, tariffs on barges remain stable, keeping low, which ensures the competitiveness of this type of transport.

Nov 20 - EU 2024/25 soft wheat exports down 31% by Nov 17
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 8.79 million metric tons by Nov. 17, down 31% from 12.66 million a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 1.83 million tons, down 37% from 2.91 million tons in the corresponding period in 2023/24.

Nov 20 - EU 2024/25 soybean imports up 9% by Nov 17, rapeseed up 16%
European Union soybean imports so far in the 2024/25 season that started in July had reached 4.75 million metric tons by Nov. 17, up 9% compared with 4.36 million tons a year earlier, data published by the European Commission showed on Tuesday. EU rapeseed imports in the same period totalled 2.34 million tons, up 16% from 2.02 million a year earlier, while soymeal imports reached 7.08 million tons, 23% above the 5.76 million imported by the same time the previous year.

Nov 19 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 3% to $5,345/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 1% to $5,395/FEU.
- Asia-N. Europe prices (FBX11 Weekly) increased 2% to $4,580/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 2% to $4,387/FEU.

- Last week, Canada’s Labor Minister ended the separate labor disputes – one on each coast – that had resulted in lockouts at Canada’s major container ports. The Industrial Relations Board ordered operations to resume in Vancouver, Prince Rupert and Montreal, and sent operators and port worker unions to binding arbitration, with ports reopening late last week. The ILWU Local 514 in British Columbia has stated they will file legal challenges to these orders, though for now the disruptions on both coasts are over if not resolved.
Transpacific ocean rates have been stable for about a month now. Prices have eased significantly with the close of peak season pressure, with rates of about $5,400/FEU to both coasts 35% - 45% below peak levels in July.
- But when demand eased post the Lunar New Year rush back in April, rates fell back to $3,000/FEU to the West Coast and $4,300/FEU to the East Coast, marking the elevated rate floor – still about double 2019 levels – on this lane for the Red Sea-diversion era.
- Prices remaining significantly higher than in April may point to stronger than normal demand for this time of year due to shippers frontloading ahead of expected sharp tariff increases from the incoming US administration as well as a possible ILA strike at East Coast and Gulf ports after January 15th. And with Lunar New Year starting earlier than usual at the end of January this year, rates may face some additional pressure starting in late December or early January.
- The unusual parity of transpacific rates to both coasts may point to some shift of demand to the West Coast due to January strike concerns. The ILA and USMX held face to face negotiations for the first time since June last week, but talks quickly collapsed as the parties remain far apart on the role automation and semi-automation will be allowed to play at the ports, increasing concern that a new contract won’t be finalized before the January deadline.
- Asia - Europe ocean rates – which, without strike or tariff concerns, had fallen back to April levels by mid-October – increased by about 30% to start the month as carriers introduced GRIs, and so far those levels have stuck. And though some mid-month GRIs don’t seem to have taken yet, some carriers have also announced December increases aiming to push rates past the $6,000/FEU mark as an early start to the Lunar New Year rush may get underway.
- Carriers are particularly motivated to see prices increase on this lane as they enter tendering season for next year’s annual contracts with Asia - Europe BCOs. Carriers are also adjusting their port call rotations on this lane in preparation for the alliance reshuffles that will take effect in February.

Nov 19 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 28% to $7.01/kg.
- China - N. Europe weekly prices increased 5% to $4.03/kg.
- N. Europe - N. America weekly prices increased 9% to $2.60/kg.

- In air cargo, Middle East - N. America rates have climbed 22% in the last three weeks to $3.78/kg, a high for the year. This increase may reflect a peak season bump on this lane as Thanksgiving approaches, and that some shippers are opting for sea-air transport from the Far East instead of direct air shipments, possibly to avoid the higher rates and tight capacity out of China due to the e-commerce surge. Middle East - Europe rates have remained steady at $2.00/kg.
China - N. America rates have been at about $7.00/kg – a high for the year – since late October, for a 17% increase from the e-commerce volume-driven $6.00/kg level they’ve held for much of the year. And at $4.00/kg, China - Europe rates are just 6% higher than a month ago.

- Many were expecting rates on these lanes to have spiked, possibly to extreme highs, by now given the demand strength and strain on capacity seen even during the typical slow season this year. But carriers and forwarders report that though they remain very busy, they aren’t seeing peak conditions yet, and may not see much worse than current conditions as shippers planned and adjusted in advance to avoid peak season air cargo chaos.
- Transatlantic rates have increased about 45% since mid-October to $2.60/kg, a 45% gain compared to last year and their highest level since early 2023, reflecting a reduction in capacity as carriers introduced winter passenger schedules as well as some shift of freighter capacity to ex-Asia routes.

Nov 19 - Chinese exporters to hike prices, renegotiate contracts after tax rebate cuts, sources say
Chinese exporters of a wide range of products from aluminium goods to used cooking oil and solar power gear will raise prices and renegotiate contracts to pass on the cost of Beijing's tax incentive cuts, traders and analysts said. The world's second largest economy said on Friday that, from Dec. 1, it will reduce the export tax rebate rate for some refined oil products, photovoltaics, batteries and certain non-metallic mineral products from 13% to 9%.

Nov 19 - Value of Uganda's coffee exports jump 76% in October
The value of Uganda's coffee exports jumped 76.3% in October from a year ago, helped by a surge in global prices of the commodity, the state-run regulator said. Uganda shipped 496,820 60-kilogram bags of coffee in October, earning $139.05 million, the Ugandan Coffee Development Authority (UCDA) said in a report published late on Monday.

Nov 18 - China's Oct aluminium imports fall 8.7% y/y, customs data shows
China's imports of unwrought aluminium and aluminium products in October slid 8.7% year-on-year to 320,000 metric tons year-on-year, customs data showed. Imports for the first ten months of this year totalled 3.17 million tons, up 32.4% from a year earlier, according to data from the General Administration of Customs.

Nov 18 - China to cut or cancel export tax rebates for products including aluminium
China's finance ministry said on Friday it would reduce or cancel export tax rebates for a wide range of commodities and other products, effective Dec. 1. The country will reduce the export tax rebate rate for some refined oil products, photovoltaics, batteries, and certain non-metallic mineral products from 13% to 9%.

Nov 15 - Russia's grain export quota expected to shrink by two-thirds in 2025
Russia's grain export quota, set to be in place from February to June next year, could be nearly three times smaller than the 29 million tons a year earlier, due to the high pace of exports in recent months and a worse-than-expected harvest, experts said. Russia allows grain exports quota-free from July to January, the first half of the export season, and then introduces quotas among some 260 domestic traders authorized by the authorities to sell grain in international markets.

Nov 15 - China producers rush to deliver surplus zinc to Shanghai exchange
Chinese zinc producers are rushing to send 30,000 to 40,000 metric tons of refined zinc to warehouses registered with the Shanghai Futures Exchange (ShFE) ahead of November contract expiry on Friday, three sources with direct knowledge said. That tonnage will take zinc stocks in the ShFE system to between 56,524 to 66,524 tons and is likely to hit prices of the metal, used to protect steel from corrosion.

Nov 14 - FranceAgriMer cuts 2024/25 soft wheat export forecasts
Farm office FranceAgriMer on Wednesday cut its forecasts for French soft wheat exports within and outside the European Union for 2024/25, with total shipments now expected to plunge 40% after one of the country's worst harvests in 40 years. In a monthly supply and demand outlook, the office projected French soft wheat exports outside the EU at 3.9 million metric tons, down from 4.0 million expected last month and now 62% below last season's level.

Nov 14 - South Korea’s MFG buys 60,000 metric tons soymeal, traders say
South Korea’s Major Feedmill Group (MFG) purchased about 60,000 metric tons of soymeal in a private deal on Wednesday without an international tender being issued, European traders said. It was bought at an estimated $373.42 a ton cost and freight (c&f) including a surcharge for additional port unloading. Seller was believed to be trading house Olam.

Nov 13 - NITRO Shipping Weekly Freight Report for Grains

- AZOV SEA & BLACK SEA: The Azov sea market remains low. Turkish buyers push grain and grain products prices down forcing freight levels to go down. Usually for this time of the year weather delays and water fluctuations in the region.

- BALTIC SEA: The Baltic Sea region continues to be low.

- CASPIAN SEA: Despite the introduction of export duties, the market remains robust as Exporters fulfill existing contracts. There is growing anticipation of possible positive
changes in Iran, which could lead to the distribution of quotas among buyers and the announcement of new prices for the products.

- FAR EAST: The market is still weak. Shippers report delays in delivery by railway. Which makes an already difficult situation even worse.

Nov 13 - Weekly Ukrainian Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
During the first 11 days of November, the volume of agricultural exports by road from Ukraine amounted to 126.8 thousand tons, which is 3.76% less compared to the same period in October. There is a change in the direction of traffic flows through various border posts. The flow of goods across the Moldovan border increased by 13% — to 19.5 thousand tons. At the same time, the Slovak border was reduced to 8.1 thousand tons, which is 15.8% less than in the same period in October. On the Polish border, there is also a decrease in flows by 8% — to 45.6 thousand tons. The indicators of the Hungarian border decreased by 3.49% — to 13 thousand tons, as well as in Romanian — to 40.0 tons, which is 3% below the indicator of October.
The highest export rate was recorded for sunflower oil — 18.1 thousand tons, as well as for soybeans — 14.4 thousand tons.
The cost of transportation within the country has undergone a slight decrease compared to the previous period, while the price of international transportation remains stable.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @90-120€
· Ternopil region - center. Bulgaria @80-87€
· Cherkasy region. - Pd. Romania @72-83€

- RAILWAY LOGISTICS
As of 11.11, exports of agricultural products by rail have undergone some changes in comparison with October both in border directions and in cargo flows to ports.
The average daily rate of carriages transfer at the Hungarian and Polish borders increased to 54.2 and 48.7 carriages per day, which is 6.82% and 4.71% more than in October. On the Romanian border, a significant decrease was recorded — by 26.29%, to 29.6 cars per day. At the Slovak border, there is also a drop in indicators by 9.17%, to 31 cars per day. In general, the average daily carriages across all borders has remained relatively stable with minor fluctuations and amounts to 246 carriages per day.
The number of wagons heading towards the ports of Odessa increased by 16.85% — up to 7150 units. The average daily rate of unloading wagons decreased by 6.65% — to 1,334 wagons per day. The accumulation of wagons in the port of Izmail reached a record growth of 131% — up to 1,001 units compared to last week. The average daily discharge rate increased significantly, by 75.76%, to 58 wagons per day.
The increase in shipments towards the ports contributed to the increase in the cost of transportation within 1$ compared to last week.

- WATER LOGISTICS
The decline in November's exports of crops adversely affected freight rates, particularly for delivery through the Danube ports to Mediterranean regions such as Spain. At the same time, the cost of delivery in the direction of the port of Mersin increased by $ 2. Rates in the direction of the port of Constanta remain low. The cost of delivery of wheat from deep-sea ports to Spain has slightly increased — by 2$, and in the direction of Egypt and the eastern coast of Italy remained unchanged.

Nov 13 - Brazil likely to export record volume of soybean meal in 2024, says exporters group
Brazil's soybean meal exports in 2024 will probably set a new record, topping the best mark in history recorded in 2023, according to local grains traders lobby Anec. In 2023/24, Brazil should once again be the second global exporter of soybean meal, according to data from the US Department of Agriculture (USDA), as it had taken the lead in 2022/23 after a crop failure in Argentina, traditionally the largest exporter.

Nov 13 - Ukraine's rolled steel output, exports rise so far in 2024, union says
Ukrainian steel makers have increased rolled steel production by 20.6% so far in 2024 and boosted exports by 53.5%, local steel producers' union Ukrmetprom said. The union said late on Monday that rolled steel output reached 5.3 million metric tons in January-October versus 4.4 million tons a year earlier, while exports rose to 3.7 million tons from 2.4 million.

Nov 12 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 4% to $5,208/FEU.
- Asia-US East Coast prices (FBX03 Weekly) climbed 5% to $5,468/FEU.
- Asia-N. Europe prices (FBX11 Weekly) climbed 23% to $4,495/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) climbed 23% to $4,301/FEU.

A month ago, the National Retail Federation projected that post-peak season US ocean import volumes would continue to fall in Q4 with November’s volumes decreasing 10% month-on-month and a further dip expected in December.
- In the interim though, the ILA has set a January 15th deadline for a renewed East Coast and Gulf ports strike in the absence of a new contract, and a Trump victory has brought expectations for significant tariff increases next year. The NRF’s latest estimates –  with projections for November volumes adjusted up by 13% and even with October, and December projections increased by 6% – suggest that shippers have already started frontloading imports to get ahead of both these possible disruptions.
- This relative volume strength may explain why transpacific ocean rates which had fallen sharply in early October have been about level around the $5,000/FEU mark since then, stabilizing well above the $3,000 - $4,000/FEU floor for the year reached back in April when demand eased post the Lunar New Year rush. And with LNY starting at the end of January this year, rates may face some additional pressure starting in late December or early January.
Though there do not seem to be indications of frontloading on the transatlantic, at about $2,600/FEU rates have remained elevated compared to the $2,000/FEU level seen in September, and may reflect capacity reduction measures being taken by carriers.
- In Canada, port operators have locked out union workers at the Port of Montreal since Sunday night following the union's rejection of a recent wage increase proposal. The lockout has completely suspended container operations at the port marking another escalation in this ongoing dispute, and the port authority is now calling for government intervention.
- At the West Coast ports of Prince Rupert and Vancouver – Canada’s largest container port and the seventh largest in North America – the local ILWU chapter of 700 workers has been locked out for more than a week. Though the labor minister invoked a section of the country’s labor code to force the two sides to restart negotiations, talks ended quickly early this week increasing the likelihood that carriers will start diverting vessels to Seattle-Tacoma instead of waiting out the strike offshore.
- These disruptions in Canada are already being felt by importers and exporters that rely on those impacted ports. If the lockouts stretch on – especially at the larger hubs of Vancoucer and Prince Rupert – backlogs at those ports will grow, and diversions to Seattle-Tacoma could lead to delays and congestion there as well.
- Asia – Europe rates, which by late September had fallen back to their April-level floor, increased by about 20% to $4,500/FEU on early-month GRIs and so far have remained at that level. Maersk reports that, despite volumes typically declining in November, demand has rebounded recently supporting the rate increases, with congestion in Hamburg, bad weather causing delays in Rotterdam, and an increase in blanked sailings also working in favor of higher prices.  Demand will likely increase further – and earlier than usual due to longer sailings avoiding the Red Sea – ahead of Lunar New Year.

Nov 12 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 18% to $5.48/kg.
- China - N. Europe weekly prices fell 3% to $3.84/kg.
- N. Europe - N. America weekly prices increased 7% to $2.39/kg.

Air cargo peak season typically begins in November. But while rates and volumes remain strong out of Asia, the much anticipated peak season spike in rates and difficulty in securing space – as e-commerce volumes have already been keeping space tight and rates elevated for much of the year – so far has not materialized.
Some forwarders think that the anticipation of this peak season chaos may have led to enough frontloading that this year’s peak will prove to be much tamer than anticipated.

Nov 12 - Brazil coffee exports hit record in October
Brazil exported 4.57 million 60-kg bags of green coffee in October, industry group Cecafe said on Monday, reaching the highest for any month on record. The shipments from Brazil, the world's largest coffee producer and exporter, rose 10.5% in October from a year earlier, according to Cecafe. The previous monthly record was set in November 2020, it added.

Nov 12 - Bangladesh issues another tender to buy 50,000 T wheat
Bangladesh's state grains buyer has issued an international tender to purchase 50,000 metric tons of milling wheat, European traders said on Monday. The deadline for the submission of price offers is Nov. 25, they said.

Nov 11 - South Korea's MFG bought around 65,000 metric tons feed wheat
South Korea's Major Feedmill Group (MFG) purchased about 65,000 metric tons of animal feed wheat in a private deal without issuing an international tender, European traders said. One consignment was purchased at an estimated $261.80 a ton c&f plus a $1.50 a tonne surcharge for additional port unloading.

Nov 11 - Indonesia may not import rice in 2025, says senior minister
Indonesia may not import rice in 2025, Zulkifli Hasan, a senior minister overseeing food affairs, said. Indonesia's rice output is estimated to fall 2.43% this year to 30.34 million metric tons, due to a delay in planting and the harvest season after dry weather in 2023, the statistics bureau said last month.

Nov 08 - U.S. farm producers brace for hit to exports to China in Trump administration
U.S. agriculture producers are bracing for the prospect of a fresh trade war under U.S. President-elect Donald Trump again hitting exports of farm goods to China, but they said while any new tariffs would hurt, they felt better prepared.  Several U.S growers of crops from almonds to soybeans are in China this week for the China International Import Expo (CIIE), an event aimed at encouraging import purchases, and to meet officials.

Nov 08 - South Korea’s NOFI buys 65,000 T corn, 63,000 T feed wheat
Leading South Korean animal feed maker Nonghyup Feed Inc (NOFI) bought an estimated 65,000 metric tons of animal feed corn and 63,000 tons of feed wheat in a tender on Thursday, European traders said. The corn was purchased at an estimated premium of 192 U.S. cents a bushel over the Chicago March 2025 corn contract cost and freight (c&f) included, plus a $1.50 a ton surcharge for additional port unloading.

Nov 07 - South Korea’s NOFI tenders for 138,000 T corn, 60,000 T wheat
South Korean feedmaker Nonghyup Feed Inc (NOFI) has issued an international tender to purchase up to 138,000 metric tons of animal feed corn and 60,000 tons of feed corn, European traders said. The deadline for submission of price offers in the tender is also Thursday, Nov. 7.

Nov 07 - Russia's grain policies help Ukraine secure sales
Russia's curbs on wheat exports have inadvertently helped Ukraine secure lucrative sales to Egypt this week while also inflating prices for the world's top importer, traders said. Egypt's state grains buyer GASC bought 290,000 metric tons of wheat in an international tender on Monday.

Nov 06 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 2% to $5,403/FEU.
- Asia-US East Coast prices (FBX03 Weekly) increased 1% to $5,219/FEU.
- Asia-North Europe prices (FBX11 Weekly) climbed 5% to $3,655/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) increased 2% to $3,504/FEU.

- Trump’s victory in the US presidential election yesterday may start impacting the ocean freight market even before his January inauguration.
During the recent campaign Trump proposed applying across the board tariffs of 10% to 20% on most of the $3 trillion worth of annual US imports, and a minimum 60% tariff on all imports from China. In 2018, Trump’s announcement of tariff increases led to a significant pull forward of ocean imports as shippers rushed to bring in goods before the tariff increases went into effect in early 2019. Freightos Baltic Index data showed that transpacific container rates doubled from July to November in 2018 as ocean volumes and inventories grew, with rates and volumes in 2019 muted in comparison.
This time, anticipation that Trump will follow through on these campaign promises could be enough to spur some increase in ocean freight demand and rates starting now, with these trends possibly intensifying once tariff increases are actually announced.

- If pressure is renewed on the US ocean freight rates due to the election, it will be starting from an already elevated floor. Though prices have fallen significantly as peak season demand pressure has eased – transpacific rates to the East Coast are nearly 50% lower than their July high – at about $5,200/FEU East Coast prices are more than double their level last year, and West Coast prices are more than triple what they were last year and in October 2019. Rates are also $1,000 - $2,000/FEU higher than their lower for the year reached this April.
- The root cause of elevated rates across the container market is the Red Sea crisis which continues to absorb capacity. But there may be other factors at play unique to the N. American market, keeping more pressure on rates compared to other tradelanes.
- The first could be some pull forward of volumes in the last couple months by shippers in anticipation of a possible Trump victory – a trend that could intensify now that the election is over. The other is the looming January 15th deadline for a possible renewal of the port worker strike at East Coast and Gulf ports. This last factor could also be contributing to transatlantic spot rates which climbed to $2,583/FEU last week, 35% higher than a month ago, and at its highest level since May 2023.
Also in North America, port operators in Prince Rupert and Vancouver – Canada’s largest container port – have locked out ILWU workers since the start of the week in response to the union’s strike announcement. Several vessels are currently stuck at the ports waiting out the strike, with others scheduled to arrive soon. Disruptions at these hubs could lead to diversions and increased traffic at Seattle - Tacoma. Meanwhile, port workers in Montreal have ceased operations at two of the port’s terminals, impacting 40% of the port’s capacity as the newest escalation in this ongoing dispute.
- Asia -Europe ocean rates – which had returned to April levels – increased last week on start of month GRIs as carriers seek a price rebound especially as annual contract season gets underway on this lane.
- The latest daily rates of more than $4,500/FEU are more than 20% higher to last week’s levels. Carriers will be hoping some continued congestion in Hamburg, 2-3 day waits in Taiwan ports, Shanghai and Ningbo due to last weekend’s typhoon, and an increase in blanked sailings may support this rate hike even as demand eases post-peak season. An early Lunar New Year and longer lead times needed ahead of the holiday due to Red Sea diversions could also work in carriers’ favor.
- Conventional wisdom since the start of the Red Sea crisis has been that once it ends, overcapacity in the market will take hold to push rates down, possibly to extreme lows. In a recent earnings call, though, Maersk – which also said it will take about three months to get its new alliance with Hapag-Lloyd up and running smoothly after its launch in February – speculated that demand growth, slow steaming, and a significant increase in scrapping older vessels, could blunt the impact of fleet growth and keep rates profitable for carriers.

Nov 06 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 3% to $6.70/kg.
- China - N. Europe weekly prices increased 2% to $3.94/kg.
- N. Europe - N. America weekly prices increased 11% to $2.24/kg.

In air cargo, China - N. America rates of around $7.00/kg for the last couple weeks – the high for last year – suggests that air peak season is upon us for this lane, though prices to Europe have stayed level just below $4.00/kg, still below the $4.80/kg high reached last December.
The elevated starting point for air rates is due to the surge of B2C e-commerce volumes that have kept capacity tight for much of the year. But challenges to this flood of low cost imports continue to mount.
Besides the Biden administration’s proposed closing of the de minimis exemption to most Chinese imports – which may be unlikely to happen before the end of its term, though the Trump administration could feasibly try to enact something similar – the European Commission has opened an investigation into Temu’s possible failure to limit the sale of illegal goods. In the US, increases in warehouse leasing by Chinese logistics companies, including for e-commerce, may signal that some platforms are preparing for a shift away from de minimis and air cargo.

Nov 06 - NITRO SHIPPING Freight Report For Grains

AZOV SEA & BLACK SEA: The Azov sea basin shows low activity this week. Market bit down compared to last week levels. Owners are keen to fix mid-second half
November opening vessels. With the present market situation owners prefer to avoid spot opening.

BALTIC SEA: The Baltic sea market remains low.

CASPIAN SEA: This week, we see the market strengthening and the upward trend continuing, as it was in previous weeks. Ongoing adverse weather conditions are further
complicating the current situation, Owners facing delays.

FAR EAST: The market showed no significant changes in the situation over the past week.

Nov 06 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

AUTOMOTIVE LOGISTICS
In October 2024, exports of agricultural products from Ukraine by road increased by 17% compared to September, reaching 384.7 tons. The largest growth was recorded at the Romanian border — by 40%, to 116 thousand tons. At the Hungarian border, exports increased by 18%, to 38.5 thousand tons, and at the Moldovan border — by 11%, to 55.5 thousand tons. At the Polish border, there was a slight increase of 8%, to 159 thousand tons, while at the Slovak border volumes remained at the level of September — 24 thousand tons.
The main export goods in October were sunflower oil (54.9 thousand tons) and soybeans (41 thousand tons).
The cost of transportation of agricultural products to Europe decreased by 2-5€ depending on the direction, while the prices for domestic transportation remained at the level of the previous period.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @90-120€
· Ternopil region - center. Bulgaria @80-87€
· Cherkasy region. - Pd. Romania @72-83€

RAILWAY LOGISTICS
In October, the export of grain from Ukraine through land corridors by rail amounted to 393.4 thousand tons, which is 4% more than in September. There is a redistribution of volumes between border crossings. The largest increase was recorded at the Hungarian border - 53.02% compared to September, reaching 50.74 weights/day. On the Slovak border, there is also an increase of 16.76%, to 34.13 weights/day. On the Polish border, however, a decline of 6.72% was made, with a result of 46.51 carriages per day. The Romanian border also lost ground - a decrease of 20%, to 40.16 weights/day. The total average daily rate of carriage in October is 242 weights / day, which is 16.91% higher than the September figure.
In the direction of deep-sea ports of Ukraine the number of traveling cars decreased to 6219 units. At the same time, the average daily discharge rate increased by almost 10% to 1429 weights/day. There is an increase in the accumulation of wagons in the port of Izmail by 17.34% - up to 433 units, although the average daily discharge rate in the port decreased by 55.42% and is 33 weights/day due to low flow.
In general, the market remains stable due to the sufficient number of free cars and stable grain prices. At the same time, a gradual increase in demand and customer activity has led to a slight increase in tariffs by 1$.

WATER LOGISTICS
In October, the volume of agricultural exports from Ukraine by water transport increased by 35% compared to September, reaching 2,576.7 thousand tons. However, despite the general increase, the last week of the month was marked by a decrease in export volumes, which created difficulties for shipowners in maintaining freight rates at the previous level.
Tariffs for sending by costers and handissaises have decreased slightly, while rates for panamaxes have remained unchanged, as well as tariffs for barges from the ports of the Danube in the direction of Constanta.

Nov 06 - Jordan buys about 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $271.30 a ton cost and freight included (c&f) for shipment in the first half of February 2025, they said.

Nov 06 - Ukraine's October seaborne grain and oilseed exports jump y/y, trader union says
Ukraine's overall grain and oilseed exports by sea and river totalled 5.28 million metric tons in October, well exceeding the 3.13 million tons exported a year earlier, traders' union UGA said on Tuesday. Ukraine is a major global producer and exporter of grains, vegetable oils and oilseeds.

Nov 05 - Egypt's GASC buys 290,000 tonnes of wheat in tender, traders say
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), is believed to have bought 290,000 metric tons of wheat in an international tender, traders said. The purchase comprised 120,000 tons of Ukrainian wheat, 120,000 tons of Romanian wheat, and 50,000 tons of Bulgarian wheat, they added.

Nov 05 - Ghana’s cocoa purchases smooth under new funding model, Cocobod CEO says
Cocoa purchases in the world's number two producer Ghana have been smooth and orderly in the 2024/25 crop season under a new funding model that requires global traders to pay upfront for part of bean shipments, the head of the sector regulator Cocobod said on Monday. Starting in September, Cocobod replaced a previous three-decade-old system where the regulator financed bean purchases from farmers with an annual syndicated loan from international banks.

Nov 04 - Vancouver port employer could shut out foremen, bulk grain will not be hit
Port of Vancouver foremen will be locked out on Monday unless they scrap a proposed strike, employers at Canada's biggest port said on Friday, but bulk grain handling would not be affected. Canada's west coast ports are major outlets for resource exports, including potash, coal, forestry products, pork and beef.

Nov 04 - Argentina's grains export revenue jumps more than 200% in October
Argentina's farm sector brought in a total of $2.55 billion through exports in October, a 243% increase compared to the some month a year earlier, the CIARA-CEC oilseed and grains crusher chamber and exporters said on Friday. CIARA-CEC noted in a report that revenues from the sector's companies rose nearly 3% compared to September. In the January-October period there was an 21% increase.

Nov 01 - China pivot from US farm imports bolsters it against trade war risks
China's push to shift its food import sources since 2018 has put it in a better position to impose tit-for-tat tariffs on U.S. farm goods with less harm to its food security if trade friction with Washington flares after the U.S. presidential election. The threat of a trade war looms for China, the world's top importer of farm products such as soybeans and corn, with Republican candidate Donald Trump floating blanket 60% tariffs on Chinese goods in a bid to boost U.S. manufacturing.

Nov 01 - Algeria buys around 600,000 T milling wheat in tender, traders say
Algeria’s state grains agency OAIC bought around 600,000 metric tons of milling wheat in an international tender on Thursday, European traders said. Purchases were reported at around $263 a ton cost and freight included, they said.

Oct 31 - Argentina transportation unions strike against Milei's austerity moves
A 24-hour strike launched on Wednesday by transportation unions in Argentina against President Javier Milei's austerity measures blocked grain shipments at a major hub and affected thousands due to the lack of operating trains and airplanes. Workers were protesting a series of layoffs in public agencies by right-wing libertarian Milei while demanding higher wages, as the government pushes through with austerity measures to balance its accounts amid a major economic crisis.

Oct 31 - South Korea’s MFG buys 68,000 T corn in another private deal, traders say
South Korea's Major Feedmill Group purchased an estimated 68,000 metric tons of animal feed corn in a second private deal on Wednesday without issuing an international tender, European traders said. This followed a previous purchase of about 66,000 tons of corn in another private deal on Wednesday.

Oct 30 - NITRO Shipping Weekly Freight Report for Russian Grains

AZOV SEA & BLACK SEA: The Azov sea market is pretty stable this week with a slight trend of weakening. Owners prefer to fix opening positions fast without waiting for spot opening.

BALTIC SEA: The Baltic sea market remains weak.

FAR EAST: It appears that the market's continued strength, potentially driven by grain shipments to Korea.

CASPIAN SEA: The market is strengthening, showing an overall upward trend, impacted by the absence of spot positions. As the rivers' navigation season nears its end, shipowners are exerting pressure on exporters by quoting high rates from rivers ports. This situation has made many shipowners hesitant to sail further upstream of Kamyshin port. Delays in vessels' arrivals due to adverse weather conditions are complicating the situation for exporters.

Oct 30 - Weekly Ukrainian Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
As of 28.10, 344 thousand tons of agricultural products were exported by road across Western borders, which is 11% more compared to the same period in September. The largest increase in exports was recorded through the Romanian border — by 35%, to 103.7 thousand tons. Over the Hungarian border, volumes also increased by 15.5% compared to last month, to 35.1 thousand tons. On the Polish border, the export rate is 135.8 thousand tons, which is only 4% higher than the September level. The Moldovan border shows stability with an export volume of 47.9 thousand tons. At the same time, due to the Slovak border, there is a decline in volumes by 7%, to 21.5 thousand tons.
The main export goods are sunflower oil (50.1 thousand tons) and soybeans (35.9 thousand tons).
There is a slight increase in tariffs for international transportation within 1€, while domestic transportation prices have suffered a slight decrease compared to last week.

Market rates for transporting tents to Europe:
· Ternopil region - center. / Mon. Italy @90-120€
· Ternopil region - center. Bulgaria @82-90€
· Ternopil region. - East. Germany @90-110€
· Cherkasy region. - Pd. Romania @75-85€

- RAILWAY LOGISTICS
As of 28.10, the total volumes of agricultural products transported by rail show a tendency to increase, which also indicates an increase in the total indicator of the average daily carriage transfer across all borders by 14%, to 236 weights per day.
On the Hungarian border, a record increase of 51.1% was recorded, to 50.11 weights per day. On the Slovak border, there is also an increase of 9.7%, to 32.07 weights per day. At the same time, export volumes across the Polish and Romanian borders decreased by 10.3% and 18.2%, respectively, to 44.71 and 41.04 scales/day.
The number of cars going to deep-sea ports of Ukraine increased by 18.04% compared to last week, reaching 6,753 units. At the same time, the average daily discharge rate decreased slightly to 1,304 weights per day. The accumulation of wagons in the port of Izmail increased by 9.17%, reaching 369 units, and due to constant alarms and shelling of the port infrastructure, the average daily discharge rate in Izmail fell by 16% and is 74 scales per day.
The offer of cars on the market remains high, which keeps the cost of rail transportation at the level of the previous week.

- WATER LOGISTICS
Fluctuations in prices in the commodity market caused a decrease in the chartering activity of ships during the past week. Due to the limited offer of free tonnage owners of coasters were able to raise freight rates by 1-2$. At the same time, the owners of hendisayzov, on the contrary, reduced their tariffs by 1$. Shipping rates from the Danube ports in the directions of Turkey, Italy and Spain increased by 1$, while the rates for sending to Constanta remain consistently low.

Oct 30 - Jordan buys about 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house Ameropa at an estimated $269.00 a ton cost and freight included (c&f) for shipment in the first half of January 2025, they said.

Oct 30 - South Korea's NOFI buys estimated 136,000 T corn, traders say
Leading South Korean animal feed maker Nonghyup Feed bought an estimated 136,000 metric tons of animal feed corn to be sourced optionally from the United States, South America or South Africa in an international tender on Tuesday seeking up to 207,000 tons, European traders said. It was bought in two 68,000 ton consignments for 2025 arrival, both from trading house Olam.

Oct 29 - Grain handlers go on strike at Australian exporter GrainCorp
Some grain handlers at GrainCorp, one of Australia's largest exporters of wheat and other crops, began industrial action, threatening to disrupt the harvest just as it ramps up. Australia is one of the world's biggest shippers of agricultural products.

Oct 29 - Indonesia considers importing 1 million tons of rice from India next year, minister says
Indonesia is looking into options for importing 1 million tons of rice from India next year, coordinating minister for food affairs Zulkifli Hasan said. Indonesia's rice output is estimated to fall 2.43% this year to 30.34 million metric tons, due to a delay in planting and harvest season amid longer dry weather in 2023, the statistics bureau said earlier this month.

Oct 28 - US corn export sales post multiyear highs, even without China - Braun
U.S. exporters last week sold unusually large volumes of corn that previously were possible only when China was active in the market. But China was absent this time around, and its import intentions remain unclear for now.

Oct 28 - Brazil's sugar output up 8% in early October, UNICA says
Sugar production in Brazil's key center-south region totaled 2.44 million metric tons in the first half of October, industry group UNICA said on Friday, an 8% increase when compared with a year earlier. Sugarcane crushing in the period rose 2.75% to 33.83 million tons, UNICA said in a report.

Oct 25 - Ukrainian corn seed flows to Europe in further farm trade shift
Ukraine has rapidly expanded exports of corn seed to the EU in the past two years in rare good news for its war-hit agricultural sector but adding to European farmers' grievances about what they say is unfair competition from Kyiv. It is ramping up shipments under free trade terms granted by the European Union following Russia's invasion, partly reversing the bloc's longstanding seed exports to Ukraine.

Oct 25 - Russia's proposed grain exchange for BRICS countries may take years to launch
Russia's proposal for a new international grain exchange could take years to get off the ground even though the plan was welcomed by members of the BRICS group of countries at a summit this week in Kazan in Russia. Russia has been pushing to establish the exchange as part of a broader plan to create new financial instruments, detach its trade from the U.S. dollar and help Moscow combat Western sanctions.

Oct 24 - NITRO SHIPPING Weekly Freight Report for Grains

- AZOV SEA & BLACK SEA: The Azov Sea market remains unstable and fairly weak, with moderate trading activity taking place. Market players report fixtures concluded still in mid 30's usd pmt fiost ex Rostov to Marmara sea bss 5'k sfs meal; 3’k wheat parcels pay 30-low 30's usd pmt fiost ex Rostov to Marmara in prompt. Some owners prefer longer voyages (Mersin / Iskenderun / Egypt Med / Albania).

- BALTIC SEA: The Baltic market remains sluggish, although there are indications of a slight strengthening in rates. Owners are eager to negotiate freight arrangements for suitable cargo.

- FAR EAST: Shipowners are exercising caution despite some market improvements, avoiding long voyages due to adverse weather conditions that threaten navigation.

- CASPIAN SEA: The market situation is showing signs of stability and favorability, as river shipping rates have risen compared to the previous week, suggesting a potential uptick in demand from Iranian buyers. Kazakhstan offers more favorable conditions for selling barley to Iran, which is why it is competing with Russia in this market. Currently, Aktau is facing significant delays, with long queues of vessels leading to waiting times of up to 1.5 weeks for berthing. The shortage of available Russian-flagged vessels for loading in Astrakhan has pushed freight rates higher, while shipments coming in at the tail end of the navigation period are becoming more lucrative. Furthermore, Iranianflagged vessels are not likely to be available until mid-November, adding to the complications caused by earlier voyage delays.

Oct 24 - InVivo eyes Ukrainian wheat to counter Russian export expansion
Agricutural cooperative InVivo is studying how it might source Ukrainian wheat alongside its core French supplies to develop new export markets after losing out to Russian wheat in Algeria, the group's chief executive said on Wednesday. The group, with activities from grain trading to wine distribution, opened a Saudi office this year and saw selling Ukrainian wheat as a way to gain scale in the Middle East in the future, Thierry Blandinieres told Reuters.

Oct 24 - Romanian government to approve railroad funding for Black Sea port of Constanta
Romania's government will approve on Wednesday a plan to upgrade rail infrastructure in the Black Sea port of Constanta to create a second railroad access point, part of wider investments in the port triggered by Russia's war in Ukraine. European Union and NATO member Romania has become Ukraine's biggest alternative grain export route since Russia's full-scale invasion in 2022 and its port of Constanta has drawn an influx of investment, including European Union funds to increase its capacity.

Oct 23 - Weekly Ukrainian Freight Report (SPIKE BROKERS)

Traded freight
Automotive logistics (dump trucks):
· Kharkiv region - South port (October-November) @1598 UAH/t with VAT
· Chernihiv region - Myronivka village (October) @650 UAH/t including VAT

- AUTOMOTIVE LOGISTICS
Last week, exports of agricultural products across western land borders remained at 87.58 thousand tons, which corresponds to the previous week. At the border with Moldova, the volumes have not changed much - 12.3 thousand tons. The Romanian border saw a slight decrease of 4.5% to 25.89 thousand tons. A more significant drop was observed on the Hungarian border, where volumes decreased by 11% and amounted to 8.29 thousand tons, as well as on the Slovak border - by 21%, to 4.56 thousand tons. At the same time, on the Polish border, through which 40% of all agricultural exports pass, there was a growth of 6.7% to 36.5 thousand tons.
Sunflower oil (37 thousand tons) and soybeans (25.5 thousand tons) continue to lidify in export in October. Tariffs for road transport remain stable, with minor fluctuations within 1$ in certain areas, which indicates a steady demand for these services.

- RAILWAY LOGISTICS
Last week, commodity flows remained stable, without significant changes. The average daily transfer of cars was 248 cars per day, which corresponds to the level of the previous week. The Slovak and Romanian borders recorded a slight decrease in exports, to 37.15 and 42.2 wagons a day, respectively. On the Hungarian border, volumes decreased by 11%, to 51.45 cars per day. The only increase was recorded on the Polish border, where the number of wagons increased by 4% to 44.6 wagons per day.
In the ports of Bolshaya Odessa, the average daily discharge increased by 4% and amounts to 1,316 wagons per day. The number of wagons moving towards the deep sea ports remains stable at 5,721 units. The accumulation of wagons in the port of Izmail decreased by 30%, to 338 units, and the average daily discharge fell by 10%, to 87 units.
Tariffs remain stable, but demand is expected to increase, which may lead to higher prices for car rentals.

- WATER LOGISTICS
Customers continue actively chartering vessels for grain shipment, which led to an increase in the rates for the transportation of vessels of the type of coster by 2$. For vessels such as hendisays, a balanced market is observed, where demand and supply are equalized, so freight rates remain at the level of the previous week. Rates for panamaxes bound for southern China have not changed either. At the same time, rates for barge freight from the Danube ports to Constanta continue to be consistently low, which indicates no significant changes in this market segment.

Oct 23 - Tunisia buys about 125,000 T soft wheat in tender, traders say
Tunisia's state grains agency is believed to have purchased about 125,000 metric tons of soft wheat in an international tender on Tuesday, European traders said. The lowest price was estimated to be $262.88 a ton cost and freight (c&f) for two 25,000 ton consignments sold by Bulgarian trading house Buildcom, traders said.

Oct 23 - Indian origin permitted in Indonesia’s 340,000 T rice tender
Indonesian state purchasing agency Bulog has told traders that Indian supplies can be offered in its new international tender to buy 340,000 metric tons of rice and the offer deadline is postponed by one day, European traders said on Tuesday. Traders said an initial announcement from Bulog said the rice could be sourced only from Thailand, Cambodia, Vietnam or Pakistan.

Oct 22 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 5% to $5,294/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 13% to $5,935/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 3% to $3,523/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 5% to $3,927/FEU.

- Some minimal congestion – caused by the three day strike at the beginning of the month – remains at US East Coast and Gulf ports though operations have mostly recovered. Some observers anticipate that the strike will still lead to some capacity and equipment shortages at Asian origins in early November.
- For now the pull forward of peak season demand to earlier than usual in the year is leading to easing volumes in October and into November and container rates are falling as a result. Transpacific spot prices to the West Coast are 35% lower than their July peak and 38% lower to the East Coast. But even with easing demand and volume projections for the coming months lower than those in Q2, transpacific rates above $5,000/FEU are still $1,500 - $2,000/FEU higher than during the previous Red Sea crisis-era lull in demand back in April.  
Meanwhile, prices for Asia - Europe containers eased to about $3,500/FEU last week, which is 60% lower than the peak in July and about even with the April floor on for this lane. Asia - Mediterranean rates fell 3% to $3,927/FEU last week, which is 50% lower than in July and $400/FEU lower than in April. At the same time, Red Sea diversions’ drain on capacity are still keeping these prices about triple their level a year ago.
- Nonetheless, with rates sliding on lower demand carriers have started to increase the number of blanked sailings on Asia - Europe lanes. Ports in Hamburg and Felixstowe are still dealing with some congestion, and some vessel bunching persists in Shanghai, though waits at Qingdao and Ningbo have decreased.  There is also anticipation that the pre-Lunar New Year demand increase could have an early start in November as European shippers still have to factor in longer transit times around the Cape of Good hope. These factors have some carriers hopeful that rates could rebound soon as MSC announced a November GRI to push Asia - Europe rates up to $5,000/FEU with other carriers also rolling out increases.

Oct 22 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices were level at $5.43/kg.
- China - N. Europe weekly prices were level at $3.81/kg.
- N. Europe - N. America weekly prices increased 2% to $1.85/kg.

- Though ocean volumes are past their peak for the year, the typical Q4 air cargo peak season should heat up soon. Freightos Air index data shows Middle East - N. America rates have increased 35% since mid-September to $3.17/kg, a level last seen in March, suggesting that sea-air peak season may already be getting underway.  
China - N. America and Europe rates remain elevated but do not seem to be increasing yet on peak season demand. B2C e-commerce volumes have kept ex-China demand and rates strong throughout much of the year, doing away with typical seasonality in the market so far this year. And expectations are that when demand increases in Q4 rates could spike even higher and space will be very difficult to secure.
- But the e-commerce impact on rates and availability this year may have pushed many forwarders and shippers to plan ahead for peak season either by building up inventories earlier than usual or reserving air capacity in advance. As a result some observers think that space will be tight and rates high during Q4, but will not be as extreme or disruptive as many are anticipating.

Oct 22 - India considers imports of Mongolian coking coal via Russia, source says
India is exploring ways to import regular supplies of Mongolian coking coal by way of Russia, a senior government official with direct knowledge of the matter said, as New Delhi seeks to avoid over-reliance on transit through China. Mills in India, the world's second-biggest producer of crude steel, grappled with volatile Australian supplies of coking coal last year, and the government sent delegations to Mongolia in an effort to diversify sources of the fuel.

Oct 22 - Indian buyers expect no disruption in Canadian lentil, potash supplies
Indian buyers do not expect supplies of Canadian lentils and potash to be affected by the diplomatic row between New Delhi and Ottawa, trade, industry and government officials said. Lentils and potash supplies from Canada have been steady, they said.

Oct 21 - Russian coal shipments to China plunge 86% in SeptemberChina's coal imports from Russia sank 86% in September from the same month a year earlier, customs data showed on Sunday, as sanctions on Moscow continued to weigh. Russia's coal shipments to China last month were 1.3 million metric tons, according to the General Administration of Customs. That was also down from 8.7 million tons in August.

Oct 21 - Bangladesh issues tender to buy 50,000 T rice, traders sayBangladesh's state grains buyer has issued an international tender to purchase 50,000 metric tons of rice, traders said. The deadline for submission of price offers is Nov. 4. Floods in Bangladesh have destroyed an estimated 1.1 million tons of rice, prompting the country to ramp up imports of the staple grain amid soaring food prices.

Oct 18 - Russia imposes temporary import ban on Kazakh grain, but allows transitRussia has imposed a temporary ban on Kazakh grain imports for its own market, but has granted Kazakhstan permission to transit grain via Russian territory for export to other countries starting from Thursday, Russia's agricultural watchdog said. The move indicates the tensions between the two grain exporters, which also tranship each other's oil, gas and metals, may have eased but are yet to be fully resolved.

Oct 18 - Taiwan buys estimated 78,200 T wheat of US-origin
The Taiwan Flour Millers' Association purchased an estimated 78,200 metric tons of milling wheat to be sourced from the United States in a tender on Thursday, European traders said. The purchase involved various wheat types for shipment from the U.S. Pacific Northwest coast in two consignments.

Oct 17 - Ukraine grain exports at 12.5 million tons so far 2024/25, says ministry
Ukraine's grain exports in the 2024/25 July-June season totalled 12.5 million metric tons as of Oct. 16, up from about 7.7 million tons over the same period of the previous season, agriculture ministry data showed on Wednesday. The volume included 7.1 million tons of wheat, 3.5 million tons of corn and 1.6 million tons of barley.

Oct 17 - South Korea’s MFG buys about 131,000 T corn, traders say
South Korea's Major Feedmill Group purchased an estimated 131,000 metric tons of animal feed corn in an international tender on Wednesday, European traders said. One consignment of 65,000 tons was bought at an estimated $237.74 a ton cost and freight included plus an additional $1.25 a ton surcharge for additional port unloading for arrival in South Korea around Jan. 6, 2025.

Oct 16 - NITRO Weekly Shipping Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov sea market steadily holds a position of one of the most volatile markets. After a significant weakening last week, this week again we see the market has regained a few dollars. A good number of vessels opening in October are fixed so those opening are looking for better freights. Owners are looking for usd 32-35 pmt fiost bss usual 3'k wheat order ex Rostov to Marmara whilst charterers are keen to see around usd 30 pmt fiost. 5-6'k sbpp (sf abt 60") cargoes are ready to pay mid 30's usd pmt fiost ex Yeisk to Marmara.

BALTIC SEA: The market is still weak in coaster size. Owners are ready to discuss freight levels to secure a cargo.

CASPIAN SEA: The Caspian basin's market stability this week, marked by only slight fluctuations, is largely influenced by Iranian buyers responding to new export duties. Their increased activity suggests a proactive strategy to secure grains before potential price hikes, reflecting a shift in purchasing behavior and an adjustment to market conditions.

FAR EAST: The market has shown continued weakness in recent days

Oct 16 - Weekly Ukrainian Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
The first half of October is marked by an increase in export shipments of agricultural products by 15% compared to the same period in September. As of 14.10, 170,000 tons of agricultural products were exported by road. In particular, stable export volumes are observed at the Polish border (64.9 thousand tons) and Slovak border (11.9 thousand tons). The Romanian border increased its figures by 50% to 52.6 thousand tons, and the Hungarian border shows a significant increase of 39% to 18.3 thousand tons. At the same time, the Moldovan border is reducing by 6% to 21.6 thousand tons.
Leaders of export for the season are sunflower oil (22.4 thousand tons) and soybeans (18.4 thousand tons).
During the week, a slight increase in tariffs for transportation in the direction of deep-sea ports of ports, which fluctuate within 2$, was also recorded.

- RAILWAY LOGISTICS
During the first half of October, an increase in the average daily transfer of cars on the Western borders by 20%, to 248 cars per day. On the Polish border, this figure is 42.69 carriages per day, which is almost 15% less than last month, and the Romanian border is reduced by 11%, to 44.61 carriages per day. At the same time, the Slovak border shows an increase of 31% compared to the previous month, with a rate of 38.38 cars per day as of 13.10. Particularly significant increase in volumes is noted on the Hungarian border - by 74%, where 57.85 cars are transshipped every day.
As of 13.10, 5,843 wagons are moving in the direction of Odessa ports, which corresponds to the last week's indicator. The average daily discharge rate in ports is 1264 wagons per day, which indicates an increase of 6%. In the port of Izmail, the accumulation of wagons decreased by almost half, to 487 units, while the average daily discharge rate in the port of Izmail increased by 14%, to 96 units compared to the previous week.
Despite the expectations of tariff increases, a slight decrease was recorded in the range of 2-5$, depending on the direction.

- WATER LOGISTICS
The lack of free tonnage and regular shelling of the port infrastructure led to an increase in freight rates in different directions. Shipowners are reluctant to enter Ukrainian ports, which is why charterers face a shortage of transport. Tariff rates for coasters in the direction of Italy and Spain increased by an average of 2$. Similarly, the freight offers in the direction of Turkey from the Danube ports also increased by 2$. However, the situation with barges remains stable, and the cost of transportation is kept low.

Oct 16 - Dry Freight Markets
Russia’s Grain Exporters Union starts publishing indicative prices for wheat exports
Russia’s Grain Exporters Union began publishing indicative export prices for Russian wheat on Tuesday, following discussions on exports during a meeting between agriculture ministry officials and leading exporters last week. The union said the indicative export price for wheat with 12.5% protein content on a free-on-board basis from the Black Sea port of Novorossiysk was $240 per metric ton for October, $245 for November and $250 for December.

Oct 16 - Turkey relaxes wheat import rules as ban due to expire, millers say
Turkey, the world's largest flour exporter, has relaxed its wheat import rules ahead of the scheduled expiry of a ban at midnight on Tuesday, according to the millers' association. In June, Turkey banned wheat imports until Oct. 15 to protect farmers from low prices, promote domestic procurement of grains by the Turkish state grain board and create a favourable market for farmers.

Oct 15 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 3% to $5,565/FEU.
- Asia-US East Coast prices (FBX03 Weekly) climbed 1% to $6,787/FEU.
- Asia-N. Europe prices (FBX11 Weekly) decreased 11% to $3,625/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 8% to $4,118/FEU.

- Hurricane Milton battered the west coast of Florida last week. Power disruptions kept the Port of Tampa Bay closed until Monday, while ports in Miami and Jacksonville resumed operations before the end of last week.
- The Port of Savannah, which was still facing a backlog from Hurricane Helene in September, will require another two weeks to restore full fluidity as the three-day ILA port strike added to the number of waiting vessels.  Ships are waiting more than two days for a slot in Savannah, with the other major East Coast ports also reporting waits of one to four days at some terminals due to the strike, representing significant but not extreme congestion as the backlogs get cleared.
- Some carriers have announced blanked sailings in response to the congestion, but may also be adjusting capacity to the lower, post-peak season volumes.
- Transpacific ocean rates are now 30% below their July peaks, and with the early end to peak season we should expect rates to continue easing. Rate levels of $5,500/FEU to the West Coast and $6,700/FEU to the East Coast are still several thousand dollars higher than typical levels even for peak season and are also still about $1,000/FEU higher than the Red Sea-adjusted floor hit in April. As long as Red Sea diversions continue to absorb capacity on an industry level, prices may not fall much further than seen back in April.
- Asia - Europe and Mediterranean trades – that, due to longer lead times for sailings around the Cape of Good Hope, had to have peak season goods moved out of Asia before Golden Week to receive them in time for Q4 consumer events – seem to be even further past peak demand than the transpacific. Rates on these lanes fell further last week and, at about $3,600/FEU to Europe and $4,000/FEU to the Mediterranean, are already just about at April levels.

Oct 15 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 23% to $5.43/kg.
- China - N. Europe weekly prices fell 1% to $3.80/kg.
- N. Europe - N. America weekly increased 2% to $1.82/kg.

- In air cargo, Freightos Air Index data shows that transpacific air cargo rates that had jumped to $7.07/kg with some ocean to air shift at the start of the ILA strike, fell back to $5.43/kg last week. But even at $5 - $6/kg, rates are elevated well above typical levels even ahead of air’s Q4 peak season on the continued surge of e-commerce volumes out of China.
The importing of low-cost goods directly to consumers by high cost air cargo is mostly facilitated by the de minimis exception which exempts small imports from customs costs and rigorous and expensive filing requirements.
- In September the White House announced plans to significantly reduce access to the de minimis exemption, with e-commerce imports from China a main target.
Actual rule changes will be a ways off and final versions could be quite different from those proposed. Because of the lack of movement since September, e-commerce air cargo volumes are expected to increase along with other types of goods soon and through early December, making space even tighter and pushing rates higher.
If significant changes to de minimis do eventually go through though, they could result in a shift in strategy by e-commerce platforms like Temu and Shein, and a possible shift away or reduction in use of air cargo for these types of goods.

Oct 15 - France set to break wheat export lull with rare Thailand shipment
A large cargo of French wheat is set to load for Thailand this month, according to trading and shipping sources, a rare shipment to the southeast Asian country that will boost sluggish French exports. A ship is due to call at the northern river port of Rouen this week to load part of a planned volume of between 60,000 and 70,000 metric tons, with the vessel expected to complete loading at the west coast port of La Pallice, the sources said.

Oct 15 - Ukraine's grain exports via Romania's Constanta down by half in Jan-Sept
Ukraine's grain exports through the Romanian Black Sea port of Constanta fell by half on the year in the first nine months to 5.17 million metric tons, the port authority said, as Kyiv has increasingly relied on its own ports this year despite Russian attacks on ships and port infrastructure. Constanta remains Ukraine's main alternative route for grain since Russia's full-scale invasion and the port has seen an influx of European Union investment funds to boost its capacity.

Oct 14 - Russia sets price floor for wheat at international tenders, sources say
Russia's agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters. The recommendation introduces a de-facto price floor of $250 per metric ton on a free-on-board basis for wheat from Russia, the world's biggest exporter of the grain.

Oct 14 - South Korea’s NOFI buys about 60,000 T soymeal, traders say
Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) purchased up to 60,000 metric tons of soymeal in an international tender on Friday, European traders said. It was expected to be sourced from South America, but the seller can also optionally supply from the United States or China.

Oct 11 - Japan may take action to respond to China's growing steel exports, ministry official says
The Japanese government may take trade action if needed in response to growing steel exports from China, the world's biggest steel producer, an official at Japan's industry ministry said on Thursday. "We are concerned that in many cases Chinese steel is being exported at significantly low prices, affecting global supply and demand as well as pricing," Manabu Nabeshima, director of the metal industries division at the Ministry of Economy, Trade and Industry, told a news conference.

Oct 11 - South Korea’s FLC buys 60,000 metric tons soymeal, traders say
South Korean import group the Feed Leaders Committee on Thursday purchased up to 60,000 metric tons of soymeal to be sourced from South America or optionally from the United States or China, European traders said. The FLC is believed to have made the purchase from trading house Cofco at an estimated $398.50 a metric ton c&f including a surcharge for additional port unloading, they said.

Oct 10 - Algeria bars France from wheat import tender as relations sour, sources say
Algeria excluded French companies from a wheat import tender this week and required that participating firms did not offer French-origin wheat, in apparent fallout from renewed diplomatic tensions between Algiers and Paris, trading sources said. The move, echoing a dispute three years ago that led to France being sidelined from its former colony's wheat tenders for months, may reinforce the recent dominance of Black Sea supplies, led by Russian wheat, in Algeria's massive import market.

Oct 10 - More Kazakh agricultural exporters complain of issues with transit to Russia
Some Kazakh rice and corn exporters are unable to ship their products to Russia, Kazakhstan's Grain Union said on Wednesday, in what appeared to be an expansion of a Russian block on grain transit from Kazakhstan after Moscow accused Astana of breaching plant health regulations. Russia is a key transit country for major Kazakh exports such as oil and uranium, and trade tensions could make market players nervous about the steady supply of those commodities.

Oct 09 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
As of 07.10, exports of agricultural products by road increased by 17% compared to the same period in September, reaching 81 thousand tons. The growth is due to the activity of sellers and the increase in commodity prices, which stimulated the conclusion of new transactions. The largest increase in export shipments is observed at the Romanian and Slovak borders - by 40% and 47%, to 25.5 thousand tons and 9.05 thousand tons, respectively. Small growth (5-6%) was recorded at the Polish (30.7 thousand tons) and Hungarian (6.16 thousand tons) borders. The situation on the Moldovan border with the export of 9.6 thousand tons remains stable.
The leaders of exports in October are soybeans (9.8 thousand tons) and sunflower oil (9.5 tons). The increase in supplies to Romania and Bulgaria caused an increase in market rates for international transportation by 2-3€. Despite this, the domestic transportation tariffs remain stable due to the use of transport for harvesting and the reduction of the demand for transportation in the direction of ports.

- RAILWAY LOGISTICS
In the first week of October, there was a significant revival of the market for export railway shipments on most borders, except for Polish ones, where the number of wagons transmission decreased to 44.83 wagons per day. At the Romanian border, the situation remained stable at 53.67 carriages per day. Instead, at the Hungarian border, there was a significant increase in volumes by 70%, reaching 55.34 cars per day. The Slovak border also shows a significant increase of 43% with a rate of 42.83 cars per day. In general, the average daily rate of carriage transfer across all borders increased by 26%, up to 260 wagons per day.
The number of carriages moving towards the ports also increases, up to 5,818 units. The average daily rate of unloading wagons increased by 16% and is 1193 cars per day. The number of cars accumulated in the port of Izmail increased by 20%, reaching 715 units, with an average daily unloading at 84 wagons per day. This increase in volumes contributed to an increase in the rates for domestic rail transportation by an average of $ 1 compared to the previous period.

- WATER LOGISTICS
The growth of demand is also observed in the segment of water transportation, which has caused some changes in freight rates. The owners of coasters used a decrease in the free tonnage offer, increasing the tariff indicators by an average of $ 2 per ton. At the same time, rates for transportation by panamaxes and hendisayzami remain stable due to the presence of free ships. This situation is fixed in the barge market in the Danube ports, where tariffs remain unchanged due to a sufficient number of available tonnage.

Oct 09 - NITRO Shipping Freight Report for Grains

AZOV SEA & BLACK SEA: The Azov Sea market has slowed its rapid activity, with only a limited number of fixtures reported this week. Following last Friday's news on wheat, Turkish buyers have begun to lower their prices. As a result, the prices for nearly all grain commodities and pulses have declined this week. Most shipowners are still reluctant to reduce freight rates and are hopeful that the market will at least sustain its current levels.

BALTIC SEA: The Baltic Sea market is gradually rebounding, with an increase in cargo activity noted this week.

CASPIAN SEA: The Caspian Basin freight market is witnessing a revival, as exporters are keen to lock in shipments at more competitive rates. This surge in activity is largely spurred by increased exports from river ports, influenced by adverse weather conditions and the conclusion of the harvest season. While Iranian ports are facing considerable delays in discharging, Amirabad has shown improvement this week. Meanwhile, Kazakhstan is bolstering its export capacity and attracting more vessels.

FAR EAST: The market has shown no changes this week.

Oct 09 - Algeria buys about 500,000 T wheat in tender, traders say
Algeria’s state grains agency OAIC has purchased about 500,000 metric tons of milling wheat in an international tender that closed on Tuesday, European traders said. This was up from initial trader estimates of 360,000 to 390,000 tons.

Oct 09 - EU 2024/25 soft wheat exports down 29% by Oct 6, data still incomplete
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 6.35 million metric tons by Oct. 6, down 29% from 8.9 million tons a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 1.53 million tons, down 36% from 2.39 million tons in the corresponding period for 2023/24.

Oct 08 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 15% to $5,760/FEU.   
- Asia-US East Coast prices (FBX03 Weekly) fell 22% to $6,744/FEU.
- Asia-North Europe prices (FBX11 Weekly) fell 20% to $4,075/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 13% to $4,476/FEU.

- The ILA port worker strike ended last Thursday after the union accepted the USMX offer of a 62% wage increase over the next six years, and agreed to extend the expired contract until a January 15th deadline to resolve the remaining sticking points, with the role of port automation chief among them.
Some speculate that the USMX will try to leverage its wage concession toward a compromise on automation. But even after the wage agreement last week the union remained vocally opposed to any automation or semi-automation that would eliminate ILA jobs, so the new deadline is now marked on many calendars. But with the wage issue settled and the sides heading back to face-to-face negotiations for the first time since June, there is reason for some optimism. The end of the strike meant ports reopened on Friday, but the three day shutdown was enough to create a significant backlog of containers at ports with estimates of between 45 and 60 vessels waiting at anchor across East Coast and Gulf ports.
- Many industry experts estimate the three day backlog could take two or three weeks or more to clear. The Port Authority of New York and New Jersey, however, didn’t think the short closure and the 19 waiting ships were much worse than backlogs typical following winter storm shutdowns, and was optimistic that operations could recover by as early as the end of this week.
- In the meantime, shippers with containers at the ports or on vessels at anchor or due to arrive soon will likely continue to experience delays, while the level of disruption for arrivals further out will depend on how soon ports can restore fluidity. With ports reopening carriers have resumed reefer export bookings and have restarted the clocks for detention and demurrage charges too.
- Carriers introduced rate increases for transatlantic containers in anticipation of the strike and last week prices were 44% higher than in early September at $2,331/kg. In addition to the capacity being absorbed by East Coast backlogs from the strike, several European hubs, including Hamburg, are experiencing significant congestion which is also restraining supply and putting some upward pressure on rates. Carriers are also planning to reduce deployed capacity on this lane later in the month in the hope of preventing rates from falling back to the $1,600 - $1,800/FEU level they had maintained for much of the year.
- Transpacific ocean rates to both coasts had been easing in the lead up to the strike, and continued to do so during the closures, with last week’s rates more than 30% below highs reached in July. Ocean carriers had announced surcharges ranging from $1,000/FEU to $4,500/FEU in anticipation of disruptions due to the strike. But as most of these would only have gone into effect in mid-October or later they hadn’t impacted spot rates yet, and carriers have now suspended these new charges.
- With the strike over and peak season demand largely behind us from a significant pull forward of volumes in the last couple months, transpacific container rates should continue to ease on the seasonal lull in volumes between peak season and Lunar New Year. East Coast congestion caused by the strike, however, may slow the pace of the decline for these lanes if operations take several weeks to recover.
- As long as Red Sea diversions continue to absorb capacity across the market though, we should not expect rates to fall much below the floor reached back in April when transpacific rates fell to $3,000/FEU to the West Coast and $4,000/FEU to the East Coast – about double typical levels.
The early start and now early end to peak season for Asia - Europe trade, necessary to account for the longer lead times caused by Red Sea diversions, has led to a 53% drop in rates since mid-July, though at $4,075/FEU last week prices are still above the $3,300/FEU floor hit in April.  Prices to the Mediterranean have decreased 42% from their July peak, but at $4,476/FEU are just about back to their April level.

Oct 08 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 20% to $7.07/kg.
- China - N. Europe weekly prices fell 4% to $3.83/kg.
- N. Europe - N. America weekly prices increased 3% to $1.79/kg.

- The strike did lead to some ocean to air shift reflected in climbing rates on some lanes, and we may see some continued pressure on air cargo rates as long as some importers continue to expedite shipment of some essential inventories until stuck containers are received and ocean operations stabilize.
- Freightos Air Index data shows Europe - N. America air cargo rates have increased 4% to $1.79/kg since early September, possibly reflecting some shift of transatlantic ocean volumes to air.  
- Transpacific air cargo rates did not climb much in the lead up to the strike, but once the strike started China - N. America rates jumped to $7.07/kg from $5.91/kg the previous week. Rates on this lane have not been at or above $7/kg since peak season last year, and only briefly. So rates may be increasing on an increase of transpacific demand due to the strike and are climbing from an already elevated floor due to the surge of e-commerce volumes out of China that have kept rates around $6/kg for most of the year.  
Meanwhile, rates to Europe – still well above typical levels for this time of year due to e-commerce volumes – were about level last week at $3.83/kg, which may indicate that the price increase to N. America is strike driven.
- Middle East - N America air cargo rates were up to $3.06/kg last week, which is 30% higher than in mid-September and may reflect some ocean to sea-air shift due to the East Coast strike as well.

Oct 08 - Ukraine says Russian missiles strike two Black Sea grain vessels
A Russian missile hit a Palau-flagged vessel in Ukraine’s southern port of Odesa on Monday, killing a Ukrainian national and injuring five crew membersin the second such attack in as many days, officials said. Ukrainian Foreign Minister Andrii Sybiha said on X that the two ships were damaged in the Black Sea grain-export hub without giving details on the ships' conditions. He condemned Russia's actions.

Oct 08 - Saudi Arabia buys 307,000 tons of wheat in tender, GFSA says
Saudi Arabia has purchased 307,000 metric tons of wheat in a tender for arrival between December and January, the GFSA state buying agency said on Monday. The tender sought hard wheat with 12.5% protein, with the purchase was slightly above the 295,000 tons sought.

Oct 07 - Turkish flour mills seek relaxation of wheat import ban
Turkey's flour mills are seeking a relaxation of the country's ban on wheat imports, the mills' association said on Friday. Turkey, the world's largest flour exporter, banned wheat imports in June until Oct. 15, 2024, to protect farmers from low prices, promote domestic procurement of grains by the Turkish state grain board TMO and create a favourable market for farmers.

Oct 07 - Algeria tenders to buy nominal 50,000 T soft milling wheat, traders say
Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on Sunday. The tender sought a nominal 50,000 metric tons but Algeria often buys considerably more in its tenders than the nominal volume sought.

Oct 04 - US port strike ends, but clearing long ship queues will take time
U.S. East Coast and Gulf Coast ports began reopening on Thursday night after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time. At least 54 container ships queued up outside the ports over three days as the strike prevented unloading and threatened shortages of everything from bananas to auto parts.

Oct 04 - Kazakhstan seeks clarity from Russia over grain transit
Kazakhstan has asked Moscow to prove claims it has breached rules on plant health, the reason cited by Moscow for an effective ban of imports and transit of Kazakh grain, Kazakh officials said on Thursday. Russia is also a key transit country for other Kazakh exports such as oil and uranium, and trade tensions could make market players nervous about the steady supply of those commodities.

Oct 03 - NITRO Shipping Freight Report for Grains

- AZOV SEA & BLACK SEA: The Azov Sea basin experienced another week of increased freight activity. 3'k wheat lot rose from the low 30's at the beginning of last week to about usd 40 pmt fiost to this week and continue to firm up further. Grain traders are ready to pay better to secure tonnage for middle and end October dates already as the market is firming up fast. Owners, on the other hand, prefer to wait closer to vessel opening to fix at higher levels.

- BALTIC SEA: The Baltic Sea market continues to be weak, with plenty of prompt opening positions suitable employment opportunities.

- CASPIAN SEA: The market is steadily rebounding and approaching the levels seen in the past two weeks. The recent stabilization of freight rates, following a decrease in
enthusiasm surrounding the corn export quota, indicates that the market is adapting to changing conditions. This shift may result in more consistent rates in the future.

- FAR EAST: The market is more less stable nowadays.

Oct 03 - Russian grain exporters' lobby urges curbs on low price exports
Russia's export volumes from the first quarter of the 2024-2025 season were excessive, the country's grain exporters' union said on Wednesday, calling for a quota mechanism to limit shipments. The union said the first quarter export volume was roughly 17 million metric tons, citing preliminary data, already a quarter of the new season's export potential.

Oct 03 - Union Pacific says FXE issuing some US-Mexico grain shuttle permits
Union Pacific Corp said on Wednesday that Ferromex, the Mexican railroad it interchanges with, has resumed issuing permits for grain shuttle trains at the U.S.-Mexico border crossing at Eagle Pass, Texas. FXE could not be reached for comment on Wednesday.

Oct 02 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

- AUTOMOTIVE LOGISTICS
In September, agricultural exports remained at the level of August, reaching 330 thousand tons, which is due to the almost complete absence of transitional residues from the previous year. The changes affected the distribution of volumes in different directions. In particular, the Polish border was reduced by 9% compared to August, to 140 thousand tons. At the same time, the Romanian border saw an increase in exports by 10% to 83 thousand tons. The Hungarian border also showed a positive trend, increasing by 12% and completing the month with an index of 32.7 thousand tons. The Moldovan and Slovak borders have kept the previous volumes — 50 thousand tons and 24.7 thousand tons, respectively. Active demand for domestic transportation has led to an increase in tariffs by an average of 3$, while tariffs for international transportation remained at the level of the previous week.

- RAILWAY LOGISTICS
The average daily indicator of export shipments by rail in September remained at the level of August, making up 206 cars per day. This is due to the procrastination of farmers with the sale of products in anticipation of more competitive prices. Changes in the volume of shipments across different borders were insignificant. On the Polish border, the volume of carriage transfer remained almost unchanged - 50.49 cars per day. On the Hungarian border, there was an increase in volumes by 14%, to 32.45 cars per day, and in the Slovak border, the increase was 15%, to 29.86 cars per day. At the same time, the Romanian border saw a decline of 2.4%, to 51.69 cars per day.
Unloading wagons with grain in the direction of the Black Sea ports ranged in the range of 900-1200 cars per day. At the end of September (30.09) the number of cars moving towards the ports of Greater Odessa was 5402 units, which is 16.7% more than the previous week. The accumulation of wagons in the port of Izmail decreased by 13%, to 596 units, and the average daily discharge increased by 9.7%, to 79 wagons per day. Availability of free private cars and independence from CTL cars allowed to slightly increase the tariffs for transportation within 1-3$.

- WATER LOGISTICS
Increased trade activity and increase in the number of orders changed the balance in the market in favor of shipowners. The cost of freight for the Handysizes in the direction of eastern Italy and Spain increased by 2$. The coster market also recorded an increase in rates of 1$. At the same time, due to the limited demand for barges, tariffs for transportation from Danube ports remain low. Freight rates for panamaxes have not changed due to lack of active demand.

Oct 02 - White House sides with union as dockworker strike enters second day
President Joe Biden’s administration heaped pressure on U.S. port employers to raise their offer to secure a labor deal with dockworkers on strike for a second day on Wednesday, choking half the country’s ocean shipping. The strike by the International Longshoremen's Association union has blocked everything from food to automobile shipments across dozens of ports from Maine to Texas in a disruption analysts warn will cost the economy billions of dollars a day.

Oct 02 - Morocco to import more wheat from Russia than France in 2024/25, grain traders chief
Russia is expected to be Morocco's top soft wheat supplier this 2024/25 season, surpassiFng France, the head of the Moroccan grain traders' association Omar Yacoubi said on Tuesday. Morocco needs to import 5 million metric tons of soft wheat, after a meagre domestic harvest due to drought, he told Reuters.

Oct 02 - What products could be affected by the port strike? - moneywatch
By Kate Gibson

Edited By Anne Marie Lee

Updated on: October 1, 2024 / 5:30 PM EDT / CBS News

The first dockworkers strike at major East and Gulf coast ports in almost half a century could soon mean shortages of bananas and pricier imported cherries at U.S. grocery stores. That's because both fruits are among the more than 100 categories of food that depend on the now-shuttered operations, with the labor dispute also expected to delay auto shipments.

Just how much American consumers and the U.S. economy will be impacted by the strike's immediate disruption of ports that handle about half of the country's trade in cargo containers depends on the duration of the work stoppage, now in its first day.

"Each day that this goes on it creates a backlog of containers and ships," American Farm Bureau Federation economist Daniel Munch told CBS MoneyWatch. "A 3-to-5-day strike will take two weeks to clear — if it goes into three-week territory, it will be early January before it gets cleared."

How much do dockworkers make? Here are the striking workers' salaries.
Food products likely to be impacted in the nearer term include seafood, coffee and fruits and vegetables grown outside the U.S.  And while retailers that likely stocked up beforehand are buffered against an immediate impact, "at some point bananas are going to expire, frozen seafood is going to defrost," Munch said.

The strike, depending on its length, is going to felt by consumers and farmers who rely on the impacted ports to export containerized cargos of soybeans and shipments of poultry, said the economist, who urged both sides to work for a resolution.

"Within two to three weeks you should start seeing shortages," Andrew Coggins, a clinical professor of management and management science at Pace University's Lupin School of Business, told CBS MoneyWatch. "It is a big deal, especially if it lasts for a long time, because so much of what we use on a daily basis has at some point in its life traveled by ship or by water, or at least, some components," Coggins said.

The impact for U.S. consumers won't be immediate because companies learned to maintain backup supplies during the pandemic. "Before, there was a heavy reliance on just-in-time logistics. Then, when COVID hit and goods weren't coming in just-in-time from China and elsewhere, and the longshoremen were sick, it slowed everything down," he noted.

What products will be affected by the port strike
More than 75% of U.S. bananas arrive at ports handled by the International Longshoremen's Association, or ILA, according to the  farm bureau. Beyond the perishable fruit, nearly 90% of imported cherries, 85% of canned foodstuffs, 82% of hot peppers and 80% of chocolate that arrive via waterborne vessels are offloaded from containers at this ports, Munch noted.

New York Governor Kathy Hochul on Monday warned of possible banana shortages, telling a news conference at Port Authority headquarters: "I do not want to be in a position to say, 'Yes, we have no bananas,' but we could get to that point."

Much of the state's food supply is shipped by truck or rail from upstate and other states, or Canada and Mexico, and pharmaceuticals are flown in, Hochul said.

The automobile industry could feel a more immediate impact, however, with Hochul cautioning would-be buyers to call ahead.

"If you're expecting a new car this week, it may be something you want to check with your dealer. It may not be arriving, for example, in the next few weeks," she warned.

Imported beverages also at risk from dock strike
Beverages are also at risk of being in short supply or subject to price increases, with 80% of imported beer, wine, whiskey and scotch, as well as 60% of rum, arriving at East and Gulf coast ports, the farm bureau noted.

Retailers and importers of nonagricultural goods had sped up shipments in anticipation of the strike, and some ships were diverted to West Coast ports where workers are not among those striking.


"Our commodities that we export and Walmart definitely will be impacted," said Coggins. Some overseas goods might be rerouted to Mexico and sent out by rail or truck, he noted.

The strike could also prove an issue for American farmers and U.S. agricultural exports, leading to an overabundance of American-grown commodities domestically.

"Approximately 14% of all U.S. waterborne agricultural exports, by volume, would be at risk," wrote Munch. "Over a one-week period, the potential value of disrupted containerized ag exports is estimated at $318 million."

Oct 01 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) fell 1% to $6,816/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 3% to $8,693/FEU.
- Asia-N. Europe prices (FBX11 Weekly) fell 6% to $5,074/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 3% to $5,142/FEU.

- The long-anticipated ILA port worker union strike across US East Coast and Gulf ports began Monday night at 12:01am after the ILA and USMX failed to come to an agreement before the deadline.
- In the last few days the White House and other government officials had been urging both sides to return to the negotiating table, with USMX leadership reportedly meeting with the Biden administration late last week.
- The USMX made a last minute 50% wage increase offer, which the ILA rejected as the union is reportedly seeking a 77% increase. The USMX filed an unfair labor practice charge with the National Labor Relations Board against the ILA last week, which, if accepted, would force the ILA back to the negotiating table, though the approval process could take several weeks.  In the last days before the strike logistics providers were hastening steps to minimize the impact of a strike as much as possible. Trucking firms were working to pull containers out of impacted ports before the shutdown. Carriers including ONE, Hapag-Lloyd, and MSC had some vessels omit East Coast port calls scheduled too close to the strike deadline, instead offloading all imports at other East Coast stops or in Mexico or Canada, though so far there haven’t been reports of outright diversions to unscheduled East Coast alternatives or to the West Coast.
- Some carriers have stopped accepting new reefer bookings for the East Coast and many are rolling out significant surcharges for new dry container bookings in October, which are likely to push East Coast rates up even while the ports are closed. Several carriers have announced they will stop the clock on detention and demurrage charges for containers stuck on container yards during the strike, with the FMC also warning against unfair D+D charges.
- Though container and intermodal capacity limits at alternative ports in Mexico and Canada do not make them viable options for a full-scale shift of impacted volumes, a three-day labor strike at two of the Port of Montreal’s five container terminals, is not helping matters either.
- It remains to be seen if the ILA will implement a sustained wide scale strike or some alternative – like strikes only at some key ports, only on certain days, or a slow down of operations at some or all ports – instead.  Some observers think that due to the economic implications of a prolonged full-scale strike and the political pressure it would place on the Biden administration, the ILA may prefer more limited actions and reduce the likelihood of government intervention.
- In any case, there are reportedly about 40 vessels slated to arrive just at the Port of New York/New Jersey this week, and the large majority will likely arrive and wait if the ports are shut down. Congestion and backlogs from a strike will cause delays for shippers with containers at the ports or on those or additional arriving vessels and – as already reflected in carrier surcharges – will push freight rates up.
- Demand had already shifted somewhat to the West Coast in the last few months, and a prolonged shutdown will intensify that trend. Demand increases or actual diverted vessels to the West Coast will likely push rates up there as well despite a projected overall decrease in import container volumes to the US in October.
The Ports of LA/Long Beach, as well as ports in the Pacific Northwest report fluid operations and preparedness for a sudden increase in volumes. But a prolonged strike and a significant shift of demand and port calls to the West Coast could eventually overwhelm the ports and lead to congestion that would further slow down operations, tie up capacity and push rates up.
- A long-enough strike on the East Coast would eventually be felt in capacity and empty container shortages in Europe, and significant enough congestion on the West Coast could likewise impact equipment availability at Asian origin hubs, affecting intra-Asia and Asia - Europe shipping as well.

Oct 01 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices increased 9% to $5.91/kg.
- China - N. Europe weekly prices increased 8% to $3.97/kg.
- N. Europe - N. America weekly prices increased 1% to $1.73/kg.

- The anticipation of the strike has already pushed some shippers, especially of perishable goods, from ocean to air cargo. Freightos Air Index data for Latin America - N. America and N. America - Europe rates don't reflect an uptick in air cargo prices yet, though Europe - N. America rates have increased 4% to $1.73/kg since early September.
- China - N. America air rates increased 9% last week to $5.91/kg. This climb could reflect the beginning of air peak season, with prices already above typical peak season levels from the ongoing surge of e-commerce volumes. Though hubs in China are not reporting operational slow downs yet, some congestion is forming in Singapore and Vietnam, with the Philippines experiencing severe backlogs.

Oct 01 - US East Coast dockworkers strike, in blow to shipping imports and exports
Dockworkers along the U.S. East Coast and Gulf Coast began a strike, halting the flow of about half the nation's ocean shipping after negotiations for a new labor contract broke down over wages. The strike blocks everything from food to automobile shipments across dozens of ports from Maine to Texas, in a disruption analysts warned will cost the economy billions of dollars a day, threaten jobs, and stoke inflation.

Oct 01 - BNSF rail to resume issuing grain shuttle permits to Mexico, company says
Berkshire Hathaway-owned BNSF Railway will resume issuing permits for grain shuttles heading to Mexico starting Tuesday, the company told Reuters on Monday, in a move that could help ease some delays impacting agricultural exports. The news comes as U.S. East and Gulf Coast port workers are set to go on strike on Tuesday, with no talks currently scheduled to head off a stoppage.

Sep 30 - India allows non-basmati white rice exports in boost for global supplies
India gave the go-ahead on Saturday for exports of non-basmati white rice to resume as inventories in the world's biggest exporter of the grain surge and farmers prepare to harvest a new crop in the coming weeks. Bigger rice shipments from India would beef up overall global supplies and soften international prices by forcing other major exporters of the staple such as Pakistan, Thailand and Vietnam to reduce their rates, traders said.

Sep 30 - South Korea’s MFG passes in 70,000 T corn tender, traders say
South Korea's Major Feedmill Group is believed to have rejected all offers and made no purchase in an international tender to buy up to 70,000 metric tons of animal feed corn on Friday, European traders said. Prices were regarded as too high. The lowest offer was estimated to be $245.45 a ton cost and freight included plus a plus a $1.50 a ton surcharge for additional port unloading said to have been submitted by trading house Olam.

Sep 27 - Russia expands Baltic ports as it eyes new grain markets
Russia, the world's leading wheat exporter, is expanding its Baltic Sea ports as it aims to boost agricultural exports by 50% by 2030 while reducing dependence on traditional Black Sea routes, officials and executives said. The country, which exported at least 72 million metric tons of grain in the 2023/24 season, is looking at new markets in Latin America and Africa to diversify from its traditional grain markets in North Africa and the Middle East.

Sep 27 - Jordan tenders to buy up to 120,000 T feed barley, traders say
Jordan's state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Thursday. The deadline for submission of price offers in the tender is Oct. 2.

Sep 26 - NITRO Shipping Freight Report for Grains

AZOV SEA & BLACK SEA: The market has risen this week due to uncertainty about whether Turkey will extend or lift its potential wheat export ban starting in the mid of October, along with significant delays of vessels in the Azov Sea. Owners see workable levels of low-mid 30's usd pmt fiost bss 3'k wheat ex Rostov to Marmara. However, opinions among market participants differ on future trends, as trading activity is not robust enough to sustain such an increase in freight rates.

BALTIC SEA: The Baltic Sea remains stagnant, and the market is experiencing low activity.

CASPIAN SEA: The Caspian region has significantly gained momentum in recent days, driven by the announcement of increased export tariffs. Consequently, freight rates are experiencing a rise. Additionally, delays in unloading vessels in Iran have intensified pressure on freight rates, further supporting this upward trend.

FAR EAST: The market is sluggish, with minimal activity in grain cargo exports. Additionally, the recent adverse weather conditions have led shipowners to be wary of committing to long-distance voyages.

Sep 26 - Weekly Ocean rates - Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 1% to $6,875/FEU.
- Asia-US East Coast prices (FBX03 Weekly) fell 4% to $8,952/FEU.
- Asia-N. Europe prices (FBX11 Weekly) decreased 17% to $5,412/FEU.
- Asia-Mediterranean prices (FBX13 Weekly) fell 10% to $5,277/FEU.

- Less than five days remain before the ILA’s current contract expires and, most likely, a large-scale strike begins. The ILA and USMX have not met face to face since June and remain far apart on key issues like wage increases and port automation.
- Multiple shipper associations have reached out to the White House asking it to intervene. The vocally pro-union administration has stated that it does not intend to end a strike via the Taft-Hartley Act. At the same time, with the economic impact of a port shutdown estimated at several billion dollars per day and election day approaching, the administration will also be under pressure not to allow a strike to stretch on too long.
- In expectation of a strike starting Monday night, ports, carriers and regulators are getting ready.

An ILA strike on the East Coast and Gulf would completely shut down many ports and could effectively paralyze some that employ both ILA and non-union labor, while other hybrid ports will be able to keep some terminals running.
- Many of the major container hubs have extended their gate and terminal hours, including over the final weekend before the strike. Ports and rail operators are also setting deadlines for final pick-up and drop-offs, with particular concern for reefer shipments getting moved from the ports or loaded on vessels before the deadline to avoid going unattended on container yards.
- Some ocean carriers have stopped accepting new export bookings in anticipation of the strike.  Hapag-Lloyd announced that containers already en route to affected ports will not be rerouted, and many carriers have rolled out surcharges ranging from $400 to $3,000/FEU for all East Coast and Gulf containers starting in October.
During the pandemic, many shippers accrued significant storage charges on containers they were unable to move off container yards due to extreme port congestion. In anticipation of stuck containers during a strike the FMC has issued an advisory this week warning carriers and operators against unfair charges this time, with some already announcing they will stop the clock on detention and demurrage charges during the strike.
- Though many containers and vessels will be stuck on the East Coast and Gulf until operations resume, others will be diverted or shifted to West Coast services. Despite a record number of containers arriving at West Coast hubs last month, operations remained smooth. Operators attribute some of this success to lessons learned during the pandemic – including increased warehouse capacity, better chassis management, and off-site container yards – which should allow them to handle a sudden volume surge reasonably well in the event of a strike.
- But with ILA ports accounting for roughly half of all US container traffic, a prolonged shutdown would still result in West Coast port congestion and delays, which would contribute to additional upward pressure on rates alongside the increase in demand. A prolonged strike would also eventually impact vessel and container availability at origin ports in Europe and Asia, which could spread the strike’s impact beyond North America causing delays and rate increases for all lanes out of those hubs.

Sep 26 - Weekly Air rates - Freightos Air index

- China - N. America weekly prices decreased 6% to $5.43/kg.
- China - N. Europe weekly prices fell 2% to $3.67/kg.
- N. Europe - N. America weekly prices increased 2% to $1.72/kg.

Sep 26 - Shippers scramble for workarounds ahead of threatened US port strike
U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains and reignite inflation ahead of the U.S. presidential election. "This is just another headache after everything else we've been dealing with," said Kenneth Sanchez, CEO of Chesapeake Specialty Products, which sends goods like metallic abrasives and foundry sand additives used to make engine blocks and transmissions to customers around the world.

Sep 26 - Brazil drought dries river and stops shipping on key grains corridor
A widespread drought in Brazil has halted the transport of grains through the Madeira river, an important northern waterway linking key croplands with the country's ports, regional port terminals association Amport said on Wednesday. The Madeira river is a key corridor for shipping products from Rondonia state and parts of Mato Grosso state, Brazil's top soy producer, to export terminals located in the country's northern states.

Sep 25 - Ukrainian Weekly Freight Report (SPIKE BROKERS)

Traded freight
Automotive logistics (dump trucks):
· Kyiv region. - Cherkasy region (heather-yellow) @890₴ with VAT

- AUTOMOTIVE LOGISTICS
There is a slight revival in the agricultural export market, caused by the start of the harvesting campaign. Export volumes remain stable, there are no sharp fluctuations, but some changes in the distribution along the borders have been observed.
Over the past week, 81.5 thousand tons of agricultural products have been exported. A decrease in exports at the Moldovan border is recorded - 12.99 thousand tons, which is 7% less than in the previous week. At the same time, the Romanian and Hungarian borders are experiencing an increase in exports by 14% and 11%, respectively, reaching indicators of 20.3 thousand tons and 8.3 thousand tons, respectively. The Polish border showed an increase of 6%, which increased to 33.6 thousand tons, and the Slovak border increased by 5%, reaching 6.25 thousand tons.
The increased demand led to an increase in transportation tariffs to Europe, an average of €5, while domestic tariffs remain at the prior-week level.

- RAILWAY LOGISTICS
The activity of trade exports is gradually being restored, which contributes to an increase in the load of grain cargoes to 79.66 thousand tons per day. Export volumes across Polish and Slovak borders remain almost the same as last week, accounting for 54.64 and 27.23 scales/day, respectively.
On the Romanian border, there is an increase of 5%, to 51.05 weights per day, while on the Hungarian border there was a significant increase of 20%, to 28.18 weights per day. The average daily rate of carriage transfer across all borders increased by 6%, to 197 cars.
4629 cars are moving in the direction of deep-sea ports of Ukraine, which is 10% more than in the previous week. The average daily discharge rate also shows an increase of 5%, up to 984 cars per day. The accumulation of wagons in the port of Izmail increased by 10%, to 686 wagons, but the average daily discharge rate decreased slightly and is 72 scales per day.
Car owners remain in anticipation of increased demand in October and carefully record the tariffs for the next month, hoping to increase them. The instability and unpredictability of the market led to a sporadic decline in rates last week.

- WATER LOGISTICS
The growth of exports intensified the market a little, which led to an increase in freight rates by 2$ from the Danube ports towards Italy. However, the available export volumes are still insufficient for the initiative to take over the side of shipowners. The presence of free tonnage in ports continues to restrain further growth of rates, leaving them at the level of the previous week.
Freight on the barge remains at minimum levels, waiting for an increase in the flow of goods that has not yet occurred.

Sep 25 - White House monitoring US port talks, considering supply chain impacts
Officials from President Joe Biden's administration are monitoring labor talks but not trying to broker a labor deal to avert an Oct. 1 strike at U.S. East and Gulf Coast ports that handle roughly half of the country's ocean imports, administration officials said on Tuesday. Negotiations between the International Longshoremen's Association union and the United States Maritime Alliance employer group appear to be deadlocked over pay as the Sept. 30 contract expiration approaches.

Sep 25 - Argentina grains exports could hit four-year high in 2024/25 season, exchange says
Grains and oilseed output in Argentina could reach up to 143 million metric tons in the 2024/25 season under normal weather conditions, which could boost exports to their highest volume in four years, the Rosario grains exchange said on Tuesday, Given normal conditions, exports of the country's soy, corn, wheat and other crops could rise to 101.5 million tons, the exchange said in a since the 2020/21 season.

Sep 24 - Rice from Vietnam/Myanmar offered lowest in Indonesia’s tender, traders say
The lowest price offered in the international tender from Indonesian state purchasing agency Bulog buy about 450,000 metric tons of rice was estimated at $539.30 a ton cost and freight for rice expected to be sourced from either Vietnam or Myanmar, European traders said on Monday. The lowest offer was said to have been made for up to 30,200 tons.

Sep 24 - Iran's SLAL tenders for 120,000 T feed barley, traders say
Iranian state-owned animal feed importer SLAL has issued an international tender to buy at least 120,000 metric tons of animal feed barley, European traders said on Monday.
The deadline for submission of price offers in the tender is Tuesday, Sept. 24, they said.

Sep 23 - Taiwan’s MFIG tenders to buy up to 65,000 metric tons corn
Taiwan's MFIG purchasing group has issued an international tender to buy up to 65,000 metric tons of animal feed corn which can be sourced from the United States, Brazil or South Africa, European traders said on Friday. The deadline for submission of price offers in the tender is Sept. 25, they said.

Sep 23 - Jordan tenders to buy up to 120,000 metric tons feed barley, traders say
Jordan's state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Monday. The deadline for submission of price offers in the tender is Sept. 25. A new announcement had been expected after Jordan made no purchase in its previous tender for 120,000 tons of barley on Thursday.

Sep 20 - China soybean imports from US gain pace in AugustChina's soybean imports from the United States rose 70% in August from a year earlier, customs data showed on Friday, as buyers took advantage of low soybean prices. Shipments from the U.S., its second-biggest supplier, have gained pace since April, though volume remains much smaller than top producer Brazil.

Sep 19 - Port strike on US East Coast would spark supply-chain glitches from outset, shipping firm exec says
A threatened Oct. 1 strike by dockworkers at ports on the U.S. East Coast and Gulf of Mexico would immediately disrupt the flow of goods in the country, the North America chief executive of French container carrier CMA CGM said on Wednesday. The International Longshoremen's Association union represents 45,000 workers at 36 ports including New York/New Jersey, Houston and Savannah, Georgia.  

Sep 19 - FranceAgriMer slashes soft wheat export forecasts after poor crop
FranceAgriMer on Wednesday sharply lowered its forecast for French soft wheat exports in 2024/25, after a rain-hit harvest strongly lowered supplies in the European Union's top grain producer. In a supply and demand outlook, the office pegged exports outside the 27-member bloc at 4 million metric tons, down from an initial projection of 7.5 million in July and now 61% below last season's level.

Sept 18 - NITRO Shipping Weekly Freight Report for Grains

- AZOV SEA & BLACK SEA: The Azov Sea market is gradually strengthening this week. Many vessels remain stranded in Rostov, Azov, and at Kerch due to significantly low
water levels resulting from eastern winds. Charterers are willing to increase their offers slightly, by (1-2 usd pmt fiost), to secure tonnage for both short and long hauls.
Transshipment trade continues to be robust.

- BALTIC SEA: The Baltic Sea region remains at low levels, and there are few cargoes available.

- CASPIAN SEA: This week, the Caspian basin is experiencing unstable dynamics, with the market remaining relatively stable but exhibiting minor fluctuations. There has been
an influx of vessels from the Azov-Black Sea basin, which is expected to impact the market shortly.

- FAR EAST: The market has shown continued weakness in recent days.

Sep 18 - Ukrain Weekly Freight Report (SPIKE BROKERS)

Traded freight
Railway logistics (eurocars):
· Chop, Ukraine - Northern Italy (October) @41€->44€

- AUTOMOTIVE LOGISTICS
The gradual resumption of trade activity caused an increase in agricultural exports by 15% compared to the previous week, reaching 80.7 thousand tons. The largest changes are recorded at the Moldovan border, where export volume increased by 31% to 14.1 thousand tons. On the Polish border, a significant increase was also noted - by 20%, to 35.9 thousand tons. The Hungarian border shows an increase of 11% to 7.5 thousand tons, while the Slovak border increased by 4% to 5.9 thousand tons. The volume of exports across the Romanian border remains stable at 17.4 thousand tons.
The average daily export across all borders is 11.5 thousand tons, and the largest exported goods include sunflower oil (23.9 thousand tons) and soybeans (13.9 thousand tons). Domestic tariffs have increased by an average of 5%, while tariffs for international transportation remain stable at the level of the previous week.

Market rates of transportation by cars:
· zh. Ukraine - Center. / Mon. Italy @110-130€
· zh. Ukraine - center. Bulgaria @80-105€
· zh. Ukraine - Sh. Germany @105-120€
· center. Ukraine - PD. Romania @70-100€
· center. Ukraine - Mon. Italy (tank trucks) @150-180€
· zh. Ukraine - PD. Poland (tank trucks) @60-80€
· center. Ukraine - ports of the Danube @37-42$
· center. Ukraine - Ports of Odessa @25-32$

- RAILWAY LOGISTICS
The second week of September shows a decline in the rates of carriage transfer on the western borders of Ukraine. In particular, at the Polish and Romanian borders, the number of cars fell by 12%, to 53.61 and 48.47 cars per day, respectively. At the Slovak border, the figure remained almost unchanged and is 26.8 cars per day. The Hungarian border, on the contrary, showed an increase of 13%, to 22.47 cars per day. The total average daily rate of carriage transfer across all borders decreased by 4% compared to the previous week and is 185 cars per day.
In ports, there is an activation of work. The average daily rate of unloading wagons in the ports of Greater Odessa increased by 20% and is 936 wagons per day. 4180 cars are moving in the direction of deep-water ports of Ukraine, which corresponds to the previous week's indicator. The accumulation of wagons in the port of Izmail increased by 35%, to 619 units. The number of wagons unloaded in the port of Izmail also increased by 5% and is 74 units.
Tariffs for rail transportation remained unchanged.

Market rates of railway transportation:
· Lviv region. - border @15-20$ | port @26-30$
· Rivne region - border @17-20$ | port @23-28$
· Ivano-Frankivsk region. - border @15-20$ | port @23-26$
· Zhytomyr region - border @20-25$ | port @24-27$
· Chernihiv region.- border @23-28$ | port @25-29$
· Cherkasy region - border @22-29$ | port @19-26$
· Kharkiv region - border @28-35$ | port @25-30$
· Ternopil region - border @16-20$ | port @22-25$
· Mostyska II - Germany @49-51€

- WATER LOGISTICS
The intensification of trading activity has not led to an increase in freight rates due to the sufficient presence of tonnage. The rates for transportation from the Danube ports towards the east coast of Italy remain stable. The large number of available vessels in deep sea ports also constrains the growth of tariffs on destinations to Spain and Greece, keeping them at the previous level. Freight rates for barge transportation in the direction of Constanta also remain unchanged, despite problems with the draft on the Danube.

Market transportation rates from river ports:
· Izmail - Constanta, Romania (1-3 thousand tons) @10€
· Izmail - Ruse/Silistra, Bulgaria (1-3 thousand tons) @16€
· Ishmael - the eastern coast of Italy (5-7 thousand tons) @25-27$
· Reni - Marmara, Turkey (5-7 thousand tons) @17-18$

Market rates of transportation from seaports:
· Chornomorsk - the eastern coast of Italy (30-35 thousand tons) @21-22$
· Chernomorsk - PD. China (60-65 thousand tons) @48-50$
· Chernomorsk - PD. ʼVietnam (60-65 thousand tons) @45-46$