Russia’s Rostov port is banned for foreign flag ships
The local authorities in Russia have banned all foreign flag ships berthing at Black sea port Rostov. Such decision is certainly going to have a very serious impact on scrap exports from the port as around 40-50% of the ships used in shipments of scrap cargoes from Rostov port are foreign flagged. The decision has come at such a point of time that the competition by grain shipments is getting tougher for ships. Ship owners would certainly prefer grain cargoes taking into consideration the load rates and better returns. Therefore scrap shippers will inevitably be forced to deal with higher freight rates.