The river-sea coaster market remains unchanged, with the Sea of Azov still quiet. Theoretical freight levels remained at USD 24/ton for 3,000 tons of wheat on the Azov–Marmara route, USD 26/ton on the Rostov–Marmara route, and USD 47/ton on the Rostov–Mersin route. As we repeat every week, freight rates are expected to jump if the Sea of Azov reopens.

Some freight rate increases were observed this week on routes out of Ukraine, the Black Sea and the Mediterranean. A rate of USD 105/ton was paid for a 4,400-ton corn cargo transported from Izmail to Larnaca. Last week, USD 106/ton had been paid for 4,400 tons of soybeans transported from Izmail to Lebanon. Meanwhile, USD 115/ton was being offered for 8,000 tons of wheat transported from Izmail to Egypt. Last week, USD 104/ton had been paid for 9,000 tons of wheat transported on the same route.

Freight rates on routes out of Romania varied. USD 38/ton was offered for 6,500 tons of wheat transported from Galatz to Marmara. On the same route, USD 26/ton was being offered for 8,000 tons of wheat.

Freight rates on routes out of Novorossiysk also increased this week. For Novorossiysk–Marmara, freight for 5,000 tons of grain rose from USD 90/ton last week to USD 95/ton. On the Novorossiysk–Israel route, however, freight rates eased slightly, falling to around USD 120/ton for 5,000 tons.

Turning to the larger vessel segments, the Baltic Dry Index (BDI) continued to decline, falling from 2,917 points to 2,511 points. Capesize and Panamax indices fell sharply, while Supramax and Handysize tonnage recorded gains.

The Baltic Supramax Index (BSI) increased again, rising from 1,814 points to 1,865 points. Average daily global time charter equivalent (TCE) earnings consequently rose from USD 22,929/day to USD 23,573/day.

Looking specifically at Supramax routes, daily earnings on the Black Sea–Far East route increased from USD 25,221/day to USD 26,075/day. On the U.S. Gulf–Far East route, last week's decline was reversed, with earnings rising from USD 31,519/day to USD 31,644/day. Far East averages also recovered, increasing from USD 21,536/day to USD 22,316/day.

The Baltic Handysize Index (BHSI) recovered from last week's decline, rising from 996 points back to 1,011 points. Average daily TCE earnings also increased from USD 17,926/day to USD 18,200/day.

Daily earnings on the Black Sea–Mediterranean and Black Sea–Continent Handysize routes remained at USD 15,500/day. On the Black Sea–Far East route, earnings declined from USD 21,000/day to USD 20,000/day.

On the South America–Continent route, rapid growth continued following the brief decline two weeks ago, with daily earnings rising from USD 26,600/day to USD 28,472/day. Far East averages also recovered from last week's decline, increasing from USD 17,557/day to USD 17,869/day.

Numerous sales were reported this week, excluding the Ultramax segment.

In Supramax sales, the 57,000 DWT Chinese-built “Oak” (2011) and “Juniper” (2011) were each sold for USD 16.5 million.

Among older Supramax vessels, the 56,000 DWT Japanese-built “Shenli” (2004) was sold for USD 9.8 million. The 47,000 DWT Handymax “Guo Dian 16” (1997) was sold for USD 5.22 million. Previously, prices for vessels in this tonnage range had been around USD 4.5 million, so the fact that prices have also increased in this older segment is an interesting indicator.

In the Handysize segment, the 38,000 DWT Philippine-built open-hatch bulk carrier (OHBS) “ASL Crystal” (2019) changed hands for USD 27.7 million. The “Locomotion” (2013), also 38,000 DWT, was sold for USD 19.8 million. We estimate that the 37,000 DWT Japanese-built “Sunny Sandra” (2012) was sold for around USD 18 million. The 34,000 DWT Japanese-built “Bam Proteus” (2007) was delivered to her new owner for USD 9.5 million.

The 37,000 DWT Korean-built “Lima Strait” (2012) changed hands for USD 15.2 million, while the 34,000 DWT Korean-built “Marem” (2012) sold for USD 13 million.

Among Chinese-built vessels, the 37,000 DWT “ZBB Serenity” (delivered in 2010) was sold to Turkish buyers for USD 12 million. The “AM Prestige” (2014) was also sold for USD 12.5 million.

No coaster sale was reported this week either.

We wish you a pleasant week ahead.