Fastmarkets launches Ukraine-Egypt, CVB-Egypt and Russia-Saudi Arabia wheat freight assessments, clarifies Russia-Egypt and Russia-Iran freight assessments

The new launches form part of a targeted rollout responding to industry feedback highlighting the importance of distinct freight indications for major Black Sea wheat export routes.

Egypt is the world’s largest wheat importer and a principal market for Black Sea suppliers including Russia, Ukraine, Romania and Bulgaria. In connection with the strategic launch of CIF Egypt wheat assessments, Fastmarkets has introduced dedicated freight rates from Ukraine and from the CVB ports (Constanta, Varna and Burgas) to Egypt. 

Fastmarkets is also clarifying that the Black Sea-North Africa assessment has historically referred to the Russia-Egypt route on Supramax vessels; this will now transition to Handy-sized vessels, reflecting that most cargo volumes exported from Russia are transported via Handy-sized vessels.

Saudi Arabia is one of the largest purchasers in the Middle East and frequently sources key commodities through official state tenders from the Black Sea region, with particular emphasis on Russia. Accordingly, Fastmarkets is introducing a dedicated freight rate for the Russia-Saudi Arabia wheat route.

For Iran, in accordance with established methodology the Black Sea-Persian Gulf route has always referred specifically to Russian Black Sea ports to Iran, and this definition has now been formally confirmed.

The specifications are as follows:

FM-FRT-0050 Freight Ukraine-Egypt $/mt
Location: Ukrainian Black Sea ports – Egypt
Timing: within 30 days forward from the assessment date
Unit: $/mt
Data window: Weekly, Wednesdays, up to 4pm London time
Notes: Wheat Handy-size freight rate from Ukrainian ports to Egypt.

FM-FRT-0051  Freight CVB-Egypt $/mt
Location: Black Sea ports of Romania and Bulgaria (Constanta, Varna, Burgas) – Egypt
Timing: within 30 days forward from the assessment date
Unit: $/mt
Data window: Weekly, Wednesdays, up to 4pm London time
Notes: Wheat Handy-size freight rate from CVB ports to Egypt.

FM-FRT-0052 Freight Russia-Saudi Arabia $/mt (launch)
Location: Russian Black Sea ports – Saudi Arabia’s Red Sea ports
Timing: Shipment within 30 days forward from the assessment date
Unit: $/mt
Data window: Weekly, Wednesdays, up to 4pm London time
Notes: Wheat Panamax freight rate from Russian Black Sea ports to Saudi Arabia’s Jeddah port.

FM-FRT-0017 Freight Russia-Egypt $/mt
Location: Russian Black Sea ports – Egypt
Timing: within 30 days forward from the assessment date
Unit: $/mt
Publication: Weekly, Wednesdays, 4pm London time
Notes: Wheat Handy-size freight rate from Russian Black Sea ports to Egypt. Previously assessed on a Supramax basis under the name Black Sea-North Africa.

FM-FRT-0016 Freight Russia-Iran $/mt
Location: Russian Black Sea ports – Iranian ports
Timing: within 30 days forward from the assessment date
Unit: $/mt
Data window: Weekly, Wednesdays, up to 4pm London time
Notes: Wheat Panamax freight rate from Russian Black Sea ports to Iran’s deep-sea ports in the Persian Gulf. Previously assessed under the name Black Sea-Persian Gulf.

Please send any questions or comments to pricing@fastmarkets.com and EMEA_Ags@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.