In the Black Sea river-sea coaster market, freight rates remained under pressure due to the slowdown in grain exports. Freight rates for 3,000 tons of wheat on the Azov–Marmara route fell sharply from $42–43/ton to $37–38/ton. On the Rostov–Marmara route, rates declined from $44–45/ton to $39–40/ton. On the Rostov–Mersin route, freight levels continued to soften, falling from $65–66/ton to $61–62/ton.

Meanwhile, the Black Sea conventional coaster market continued to hold firm without significant downside movement. Freight rates for 5,000-ton steel shipments on the Novorossiysk–Marmara route remained at $21–22/ton, while 5,000-ton wheat cargoes traded around $23–24/ton.

Freight rates for grain cargoes transported from Ukrainian rivers to Marmara also showed no signs of weakening. Cargoes of 7,700 tons of wheat from Izmail to Marmara were quoted at $25/ton. For 5,000-ton wheat cargoes, levels around $26–27/ton could be expected.

In the larger vessel segment, the Baltic Dry Index (BDI) posted another notable increase this week, rising from 2,567 points to 2,675 points. While Capesize and Panamax freight rates plateaued, earnings in the Supramax and Handysize segments continued to improve.

The Baltic Supramax Index (BSI) rose from 1,415 points to 1,484 points, while daily time charter equivalent (TCE) earnings increased from $17,886/day to $18,760/day.

Looking at Supramax routes, Black Sea–Far East earnings continued to decline slightly, easing from $17,867/day to $17,775/day. Gulf–Far East routes also saw a small correction, with daily earnings slipping from $24,346/day to $23,964/day. Far East averages, however, continued to strengthen, rising from last week’s $17,586/day to $18,716/day.

The Baltic Handysize Index (BHSI) continued its upward movement, climbing from 741 points to 781 points. Daily TCE earnings also improved from $13,337/day to $14,050/day.

In the Black Sea, Mediterranean, and Continent regions, Handysize freight rates rebounded this week. On Black Sea–Mediterranean and Black Sea–Continent routes, daily earnings recovered from $8,500/day to $10,000/day. Black Sea–Far East voyages also strengthened, with earnings increasing again from $13,000/day to $14,000/day.

On the South America–Continent route, earnings continued to rise this week, moving from $20,700/day to $21,844/day. Far East averages also improved from $13,923/day to $14,664/day.

Let’s wrap up the week with sales.

After a two-week pause, five Ultramax sales were reported this week. The 2027-delivery 64K DWT newbuilds “New Dayang 1315” and “New Dayang 1316” were sold for $36.5 million each. The 2016-built Japanese 61K DWT “FJ Star” was sold for $26 million. The 2012-built Japanese 61K DWT vessels “ASL Ixora” and “Amore” were sold for $19.6 million and $20.4 million, respectively.

In the Supramax segment, the 2011-built Japanese 58K DWT “Sunny Royal” was sold for $18.45 million. Last week, the 2011-built Japanese 56K DWT “K. Ruby” had been sold for $15.8 million. The premium is likely related to the vessel having recently completed its 5-year survey as well as engine specification differences.

Among other Japanese-built sales, the 55K DWT vessels “Chakravati” (2006-built) and “Phoenix K” (2007-built) were sold for $10.5 million and $14 million, respectively. In the Chinese-built segment, the 2010-delivered 57K DWT “Honour” changed hands at $13.3 million.

In Handysize sales, the 2014-built Japanese 37K DWT “African Raven” and the 36K DWT “KS Grace” were sold for $19 million and $16.95 million, respectively. The price difference was attributed to the single-hull versus double-hull specification.

The Korean-built 36K DWT sister vessels “Dorysia” (2010-built) and “Stradion” (2011-built) were sold en bloc for $26.2 million.

No coaster sales were reported this week.

We wish you a great week.