The Black Sea river-sea coaster market remained stable this week, supported by the start of the ice campaign and pre–year-end demand. On the Azov–Marmara route, freight rates for 3,000 mt wheat cargoes held steady at USD 32–33/mt, unchanged from last week. Rates on the Rostov–Marmara route also remained flat at USD 34–35/mt, while the Rostov–Mersin route saw freight levels steady at USD 51–52/mt.

No change was observed in reported levels within the conventional Black Sea coaster market. Freight rates for 5,000 mt steel shipments on the Novorossiysk–Marmara route closed the year at around USD 17–18/mt, while 5,000 mt wheat cargoes were reported at approximately USD 18–19/mt. However, market feedback indicates that similar fixtures were again concluded at higher levels of USD 20–22/mt. By way of example, a 10,000 mt pig iron cargo was carried from Novorossiysk to Marmara at USD 18.5/mt.

Freight rates for 5,000–6,000 mt grain shipments from Ukrainian river ports to Marmara also remained around USD 25–26/mt. As an illustration, a 6,000 mt soy cargo fixed from Giurgiulesti to the west coast of Greece at USD 30/mt.

In the larger tonnage market, the Baltic Dry Index (BDI) closed the year lower, falling from 2,023 points to 1,889 points. With all vessel segments trending downward, the decline remained pronounced. The Baltic Supramax Index (BSI) continued to weaken, easing from 1,222 points to 1,162 points, while time-charter equivalent earnings fell from USD 15,441/day to USD 14,687/day. On a route basis, average Supramax earnings on the Black Sea–Far East route declined from USD 19,000/day to USD 18,625/day, while US Gulf–Far East routes softened from USD 24,461/day to USD 23,093/day. Far East averages also moved lower, slipping from USD 13,456/day to USD 12,596/day.

The Baltic Handysize Index also remained under pressure, easing from 746 points to 728 points, with daily earnings declining from USD 13,432/day to USD 13,112/day. In the Black Sea, Mediterranean, and Continent regions, Handysize earnings stayed flat this week, with Black Sea–Mediterranean returns holding at USD 9,000/day and Black Sea–Far East voyages remaining steady at USD 13,000/day. On other routes, South America–Continent averages softened further, declining from USD 20,794/day to USD 20,300/day, while Far East earnings continued to slide, with daily averages easing from USD 10,825/day to USD 10,565/day.

Due to the Christmas week, no sale and purchase transactions were reported. The only deal heard was the sale of a 2008 China-built 9,000 DWT coaster vessel, which reportedly changed hands for USD 2.75 million.

We wish you a good week…