The river-sea coaster market has seen no change, as has been the case over the past few months. 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. Let us repeat our usual note: freight rates are expected to jump if the Sea of Azov reopens.

Freight rates on routes out of Ukraine, the Black Sea and the Mediterranean increased again this week. Freight rates are rising due to vessels being laid up and congestion in Sulina. Last week, a 4,400-ton corn cargo on the Izmail–Larnaca route was offered at USD 105/ton, while this week the same voyage was quoted at USD 120/ton. Last week, 9,000 tons of corn was transported from Reni to Izmir at USD 82/ton, whereas this week the rate was quoted at USD 103/ton. Similarly, 5,000 tons of grain transported from Izmail to Alexandria was quoted at USD 115/ton last week and USD 123/ton this week.

For Romanian ports, 5,500 tons of wheat was transported last week from Braila to either Mersin or Famagusta at USD 50/ton. This week, a similar cargo of 5,000 tons of wheat from Braila to Egypt was quoted at USD 65/ton.

Freight rates on routes out of Novorossiysk remained unchanged this week. Freight for 5,000 tons of grain on the Novorossiysk–Marmara route remained at last week's level of USD 95/ton.

Turning to the larger vessel segments, the Baltic Dry Index (BDI) paused its decline and recovered from 2,511 points to 2,660 points. Capesize tonnage posted a slight correction, while Panamax tonnage continued to decline. Supramax and Handysize tonnage, meanwhile, continued to rise.

The Baltic Supramax Index (BSI) increased again this week, rising from 1,865 points to 1,887 points. Average daily global time charter equivalent (TCE) earnings also rose from USD 23,573/day to USD 23,849/day.

On Supramax routes, daily earnings on the Black Sea–Far East route increased from USD 26,075/day to USD 26,386/day. A renewed decline was observed on the U.S. Gulf–Far East route, with earnings falling from USD 31,644/day to USD 30,169/day. Far East averages continued to recover, rising from USD 22,316/day to USD 22,576/day.

The Baltic Handysize Index (BHSI) continued its upward movement from last week's recovery level of 1,011 points, reaching 1,020 points. Average daily TCE earnings also increased from USD 18,200/day to USD 18,361/day.

Daily earnings on the Black Sea–Mediterranean and Black Sea–Continent Handysize routes remained at USD 15,500/day this week. On the Black Sea–Far East route, earnings remained unchanged at USD 20,000/day, the level to which they had fallen last week.

The upward trend continued on the South America–Continent route. Daily earnings increased from USD 28,472/day to USD 30,022/day. Far East averages also rose from USD 17,869/day to USD 18,044/day.

Sale and purchase activity was brief but noteworthy this week.

In Ultramax sales, the 61,000 DWT Japanese-built “Bulk Guatemala” (2013) and “Diamond Queen” (2013) were sold for around USD 23–24 million. We estimate that the 60,000 DWT Japanese-built “ES Warrior” (2016) was sold for close to USD 30 million.

In the Supramax segment, the Japanese-built “Jin Xing” (2007) and “Yasa Unsal Sunar” (2007) were sold for USD 14.5 million and USD 15.1 million, respectively. The 56,000 DWT Chinese-built “Ever Progress” (2012) was sold for USD 16.25 million.

Among Handysize sales, the 38,000 DWT Japanese-built “Stellar Isabella” (2017) was sold for USD 25 million, while the same-tonnage Japanese-built “Mountpark” (2016) was sold for USD 23.5 million. The 35,000 DWT Chinese-built “Amarella” (2011) was sold for USD 12.1 million.

Once again, no coaster sale was reported.