In the Black Sea river-sea coaster market, ongoing volatility in bunker prices continues to challenge both owners and charterers. This week, freight rates for 3,000 mt wheat cargoes on the Azov–Marmara route remained steady at USD 50–51/mt. On the Rostov–Marmara route, a slight decline was observed, with rates easing from USD 53–54/mt to USD 52–53/mt. Meanwhile, freight on the Rostov–Mersin route held firm at last week’s elevated levels of USD 73–74/mt.

In the conventional Black Sea coaster market, reported freight levels remained unchanged. Rates for 5,000 mt steel shipments on the Novorossiysk–Marmara route stayed at USD 21–22/mt, while 5,000 mt wheat cargoes continued to be quoted at USD 23–24/mt.

Freight rates for 5,000 mt grain cargoes from Ukrainian river ports to Marmara showed a continued upward trend. On the Kilia–Thessaloniki route, freight for a 6,000 mt wheat cargo increased from USD 33/mt to USD 34–35/mt.

In the larger tonnage market, the Baltic Dry Index (BDI) declined again, falling from 2,056 points to 2,031 points. While the Capesize segment showed signs of recovery, Panamax and Supramax segments were under pressure. The Baltic Supramax Index (BSI) edged lower from 1,224 points to 1,206 points, with time-charter equivalent earnings decreasing from USD 15,473/day to USD 15,241/day. On a route basis, Black Sea–Far East Supramax earnings slipped from USD 19,529/day to USD 19,075/day, while US Gulf–Far East returns softened from USD 19,104/day to USD 18,800/day. Far East averages also declined from USD 15,045/day to USD 14,755/day.

The Baltic Handysize Index (BHSI) recorded its third consecutive weekly decline, falling from 744 points to 713 points. Daily earnings followed suit, dropping from USD 13,389/day to USD 12,842/day.

In the Black Sea, Mediterranean, and Continent regions, Handysize freight levels weakened this week. Earnings on the Black Sea–Mediterranean and Black Sea–Continent routes decreased from USD 12,000/day to USD 11,500/day, while Black Sea–Far East voyages declined from USD 16,000/day to USD 15,000/day.

On the South America–Continent route, the downward trend in earnings continued, albeit at a slower pace, easing from USD 18,578/day to USD 18,117/day. Far East averages also declined slightly from USD 12,440/day to USD 12,300/day.

Turning to sale and purchase activity, the only reported Ultramax transaction was the sale of the 2014 China-built 64K DWT Jin Rui for USD 24 million. For comparison, the 2013 China-built Sinop was sold last week for USD 22.5 million.

In the Supramax segment, several older vessels were reported sold. The 2009 Vietnam-built 55K DWT Valiant changed hands for USD 13.4 million, the 2012 China-built 57K DWT Hony Future for USD 14.25 million, the 2011 China-built 53K DWT Figeac for USD 11.9 million, and the 2010 China-built 58K DWT XO Copenhagen for USD 16.3 million. The premium on the latter is attributed to its construction at TESS Zhoushan. For reference, the 2010 China-built 56K DWT Papa John was sold last week for USD 13.2 million.

In the Handysize segment, three 40K DWT Chinese newbuildings were reportedly sold en bloc for USD 90 million. Additionally, the 2012 China-built 32K DWT Stamford Pioneer was sold for USD 8.5 million.

No coaster sales were reported once again.

We wish you a good week.