The Black Sea river-sea coaster market closed this week with a slight downward correction after two consecutive weeks of increases. Wheat shipments of 3,000 tonnes on the Azov-Marmara route saw a slight correction from $51-52/tonne to $50-51/tonne. On the Rostov-Marmara route, freight rates fell from $53-54/tonne to $52-53/tonne. On the Rostov-Mersin route, however, there was an increase contrary to the others, and freight rates rose from last week's $71-72/tonne to $72-73/tonne.

Looking at conventional coaster markets in the Black Sea, freight rates from Novorossiysk remained flat, if work is available, freight rates for 5,000 tonnes of steel cargo transported on the Novorossiysk-Marmara route are still around $17-18/tonne, while freight rates for 5,000 tonnes of wheat are around $18-19/tonne.

On the other hand, freight rates for the 6,000 tonnes of grain transported from Reni and Izmail to Marmara may have risen from last week's level of $22/tonnes to $24/tonnes. For Izmir, $26/tonnes was discussed. A premium may also be added.

The Baltic Dry Index (BDI) for large-tonnage vessels rebounded to 1,936 points from last week's low of 1,901 points. The Capesize and Panamax indices recovered some of their losses. While the Supramax index declined, the Handysize index continued to trend upwards.

Let's continue with the tonnages that concern us. The Baltic Supramax Index (BSI) fell from 1,447 points to 1,402 points. Average revenues also fell from $18,288/day to $17,719/day.

Freight rates on the Black Sea-Far East route remained bullish like last week despite a general decline, rising from $22,017/day to $22,458/day. Freight rates for shipments from the Gulf of Mexico to the Far East fell from $31,664/day to $29,975/day. Far East averages also declined this week, falling from $14,956/day to $14,590/day.

The Baltic Handysize Index (BHSI), on the other hand, continued its opposite movement to the indices and rose from 868 points to 873 points. The average income also increased from $15,616/day to $15,713/day. The increase was mainly on Atlantic routes.

Handysize revenues for the Black Sea, Mediterranean, and Continent routes remained stable and continued at last week's level of $13,000/day. In the Far East, daily rates also reached $15,000/day.

Income on the South America-Continent route fell back to $23,783 per day from $23,917 per day last week after a one-month increase. Average income in Far East markets recorded a slight decline this week, from $13,154 per day to $13,031 per day.

Let's close with sales again…

This week's only reported Ultramax sale saw the 2019 Japanese-built 64K DWT “Andiamo” that was sold for $30.5 million to Greek buyers.

In Supramax sales, the 2015 Japanese-built “ND Pistis” went for $23.3 million. The 2007 Japanese-built “Icarus” changed hands for $11.75 million. As for Chinese-built Supramax sales, the 2011 “Haut Brion” went for $12.3 million.

As a handysize sale, the 2011 Japanese-built open hatch bulk carrier (OHBS) 38K DWT “TBC Prime” was sold for $14 million. The 2011 Chinese-built 33K DWT “Eurosky” was sold for around $10.25 million. Finally, the 2010 Japanese-built Imabari-28 type 28K DWT “Bright Hope” went for around 9 million dollars.

No coastal vessel sales were reported this week either.

We bid you a great week ahead...