The Black Sea river-sea coaster market showed signs of slowing down this week. Freight rates for 3,000-tonne wheat cargoes on the Azov-Marmara route saw a slight correction from $40-41/tonne down to $39-40/tonne. Freight rates on the Rostov-Marmara route declined to $41-42/tonne. Finally, offers on the Rostov-Mersin route also declined from $58-60/tonne to $57-58/tonne.

In the conventional market, freight rates from Novorossiysk remained unchanged. Freight rates for 5,000 tonnes of steel bound for Marmara were reported at around $17-18/tonne, while freight rates for 5,000 tonnes of wheat were reported at around $18-19/tonne. Brokers and shipowners reiterated that there was little cargo on this route.

This week, the average freight rate for 6,000 tonnes of high-stowage grain cargoes shipped from Izmail to Marmara may have fallen from $20/tonne to around $19/tonne. On the other hand, the freight rate for 8,000 tonnes of grain cargo transported from Izmail to Egypt has risen from around $20/tonne to around $22/tonne.

As for larger tonnage the Baltic Dry Index (BDI) fluctuated again this week. The index fell from 2,025 points to 1,979 points. All sub-indices, which had risen last week, were generally down this week, especially towards the end of the week.

The Baltic Supramax Index (BSI) fell from 1,465 points to 1,456 points. Average revenues also declined marginally from $18,521 per day to $18,399 per day. But there is a completely different picture when it comes to specific routes, which is somewhat interesting.

Looking at the routes, daily revenues on the Black Sea-Far East route increased again, rising from $18,996/day to $19,483/day. For fixtures from the Gulf of Mexico to the Far East, daily revenues rose from $29,007/day to $29,486/day. Far East averages fell from $17,197/day to $16,579/day.

The Baltic Handysize Index (BHSI) rose from 725 points to 787 points. Average revenues continued to increase from $13,807 per day to $14,165 per day.

Handysize revenues for the Black Sea, Mediterranean, and Continent routes remained at $11,000 per day, up from last week's $9,000-10,000 per day. In the Far East, daily rates hovered around $13,000 per day.

Revenues on the South America-Continent route increased again, rising from $18,867 per day to $19,789 per day. Average revenues in the Far East markets remained stable, rising from $13,279 per day to $13,281 per day.

Let us conclude again with sales.

This week's reported Ultramax sales included the 2023 Japanese-built 64K DWT “Pavo Breeze,” which was sold for $36 million. The 2017 Chinese-built 64K DWT “CP Shenzen” was sold for $24.5 million.

In Supramax sales, the 2012 Korean-built 57K DWT “Marmara S” was sold for $13.85 million. This sale price is likely from an earlier date, as for example, the 2010 Philippine-built (TESS Cebu) 58K DWT “Doric Victory” was sold for $15 million. The Philippine-built (again TESS Cebu) “Meteora” changed hands for $11.65 million.

This week, four sister ships built in 2011-2012 and 2013—Verity, Acuity, Parity, and Equity—were sold en-bloc in the handysize market. The price was not disclosed, but based on recent sales, the block price is estimated to be around $40 million on average.

Finally, the 2011 Korean-built 34K DWT “Minanur Cebi 1” was sold for $11.6 million.

No coaster sales were reported this week.

We bid you a great week ahead…