In the Black Sea river-sea coaster market, freight levels remained elevated as bunker prices failed to ease. This week, freight rates for 3,000 mt wheat cargoes on the Azov–Marmara route softened slightly from USD 50–51/mt to USD 49–50/mt. On the Rostov–Marmara route, a minor decline was also observed, with rates easing from USD 52–53/mt to USD 51–52/mt. Similarly, freight on the Rostov–Mersin route edged down from USD 73–74/mt to USD 72–73/mt.

In the conventional Black Sea coaster market, reported freight levels remained stable. Rates for 5,000 mt steel shipments on the Novorossiysk–Marmara route held at USD 21–22/mt, while 5,000 mt wheat cargoes remained around USD 23–24/mt.

Freight rates for 5,000 mt grain cargoes from Ukrainian river ports to Marmara continued to increase this week. On the Kilia–Thessaloniki route, rates for a 6,000 mt wheat cargo rose from USD 34–35/mt to USD 36–37/mt.

In the larger tonnage market, the Baltic Dry Index (BDI) recorded a modest increase, rising from 2,031 points to 2,066 points. Capesize, Panamax, and Supramax segments all showed upward momentum, while the Handysize segment declined overall, although some routes saw gains.

The Baltic Supramax Index (BSI) recovered last week’s losses, climbing from 1,206 points back to 1,224 points. Time-charter equivalent earnings also improved from USD 15,241/day to USD 15,476/day. On a route basis, Black Sea–Far East Supramax earnings declined again from USD 19,075/day to USD 18,660/day, while US Gulf–Far East returns increased from USD 18,800/day to USD 19,100/day. Far East averages also showed a slight recovery, rising from USD 14,755/day to USD 14,971/day.

The Baltic Handysize Index (BHSI) extended its decline for a fourth consecutive week, easing from 713 points to 695 points. Daily earnings followed suit, decreasing from USD 12,842/day to USD 12,508/day.

In the Black Sea, Mediterranean, and Continent regions, Handysize freight levels continued to weaken. Earnings on the Black Sea–Mediterranean and Black Sea–Continent routes fell from USD 11,500/day to around USD 10,000–10,500/day, while Black Sea–Far East voyages declined from USD 15,000/day to USD 14,000/day.

On the South America–Continent route, earnings increased unexpectedly, rising from USD 18,117/day to USD 18,550/day. Far East averages also strengthened, climbing from USD 12,300/day to USD 12,563/day.

Turning to sale and purchase activity, limited transactions were reported this week due to the Easter holiday. The only reported Ultramax sale was the 2022 China-built 61K DWT Eastern Juniper, which was sold for USD 34.3 million. The relatively firm price reflects the vessel being built at NACKS, placing it closer in value to Japanese-built tonnage.

In the Supramax segment, the 2011 Korea-built 58K DWT Platon was sold for USD 15.4 million, while the 2012 China-built 57K DWT Titanas changed hands for USD 14 million.

In the Handysize segment, two 35K DWT vessels were reported sold. The 2013 Korea-built DL Olive was sold for USD 15.3 million, while the 2013 China-built Atlantic Spirit achieved USD 12.8 million.

In the coaster segment, two 5,200 DWT Chinese newbuildings were reportedly sold at USD 11.1 million each.

We wish you a good week