The Black Sea river-sea coaster market remained flat this week, as Russia observed the Orthodox Christmas holiday. Freight levels therefore showed little movement, with 3,000 mt wheat cargoes on the Azov–Marmara route continuing at USD 32–33/mt, rates on the Rostov–Marmara route holding at USD 34–35/mt, and the Rostov–Mersin route remaining steady at USD 51–52/mt.

Similarly, reported levels in the conventional Black Sea coaster market also remained unchanged. Freight rates for 5,000 mt steel shipments on the Novorossiysk–Marmara route stayed around USD 17–18/mt, while 5,000 mt wheat cargoes were quoted at approximately USD 18–19/mt. According to owners and brokers active in the market, however, freight levels that had been around USD 20–22/mt in the previous week may have eased back to USD 18–19/mt due to the Christmas holidays.

Freight rates for 5,000–6,000 mt grain shipments from Ukrainian river ports to Marmara also remained stable this week at USD 25–26/mt. For instance, a 7,700 mt soy cargo with 51 stowage, carried on the Izmail–Marmara route, was fixed this week at USD 24/mt. For 5,000 mt wheat cargoes on the same route, similar or slightly firmer freight levels appeared possible.

In the larger tonnage market, the Baltic Dry Index (BDI) fell sharply from 1,882 points to 1,688 points. While the Panamax segment showed some signs of stabilization, Capesize and Supramax sectors continued to weaken. The Baltic Supramax Index (BSI) also extended its decline, dropping from 1,076 points to 967 points, with time-charter equivalent earnings falling from USD 13,601/day to USD 12,223/day. On a route basis, average Supramax earnings on the Black Sea–Far East route declined from USD 18,058/day to USD 16,921/day, while US Gulf–Far East returns eased from USD 21,871/day to USD 19,957/day. Far East averages continued their downward trend, slipping from USD 11,079/day to USD 9,863/day.

The Baltic Handysize Index recorded another steep decline, falling from last week’s 685 points to 605 points. Daily earnings consequently dropped from USD 12,329/day to USD 10,897/day. In the Black Sea, Mediterranean, and Continent regions, Handysize freight levels remained subdued, with Black Sea–Mediterranean and Black Sea–Continent routes holding at around USD 9,000/day, while Black Sea–Far East voyages stayed flat at USD 13,000/day. In other regions, South America–Continent averages continued to weaken, falling from USD 18,250/day to USD 16,567/day, while Far East earnings also declined further, easing from USD 10,160/day to USD 9,460/day.

Turning to sale and purchase activity, only a limited number of transactions were reported this week. The sole Ultramax sale involved the 2025 China-built 64K DWT Metis Stellar, which was reportedly sold at around USD 37–38 million. In the Supramax segment, the only reported transaction was the sale of the 2011 India-built 54K DWT Wariya Naree, which changed hands for USD 9.85 million. In the Handysize segment, the 2010 Japan-built 32K DWT BC Venessa was sold for USD 12.5 million, while the 2006 Japan-built 28K DWT CSE Prosperity Express was concluded at USD 5.5 million. No coaster sales were reported this week.

We wish you a good week.