The river-sea coaster market remains quiet, with little sign of renewed activity. Freight levels for 3,000-ton wheat cargoes on the Azov–Marmara route remained unchanged at USD 22–23/ton this week, while rates on the Rostov–Marmara route continued to hover at USD 24–25/ton. Freight on the Rostov–Mersin route also remained stable at around USD 45–46/ton.

The conventional Black Sea coaster market also remained subdued. Subject to cargo availability, freight levels for 5,000-ton steel shipments from Novorossiysk to Marmara continued at USD 21–22/ton, while 5,000-ton wheat cargoes were fixed at approximately USD 23–24/ton.

Freight rates from the Ukrainian river ports to Marmara and the Eastern Mediterranean continued to trend lower. A high-stowage 6,500-ton soybean meal cargo from Chornomorsk to Marmara was reportedly fixed at USD 22/ton. By comparison, last week a 6,600-ton corn cargo from Chornomorsk to Cyprus was fixed at around USD 27/ton. While the two fixtures are not directly comparable, some market participants believe they nevertheless point to a softening freight market.

In the larger vessel segments, the Baltic Dry Index (BDI) recovered last week’s losses, rebounding from 2,524 points to 2,717 points. The Baltic Capesize and Panamax indices both posted gains this week, while the Supramax Index was broadly unchanged and the Handysize Index edged slightly lower.

As noted, the Baltic Supramax Index (BSI) remained largely flat, edging up marginally from 1,670 points to 1,673 points. Average daily time charter equivalent (TCE) earnings also posted only a slight increase, rising from USD 21,115/day to USD 21,153/day.

Looking at individual Supramax routes, average daily earnings on the Black Sea–Far East route recorded only a marginal increase, from USD 24,038/day to USD 24,042/day. Earnings from the U.S. Gulf to the Far East strengthened from USD 31,407/day to USD 32,407/day. Far East averages, however, continued to weaken, declining from USD 18,885/day to USD 18,222/day.

The Baltic Handysize Index (BHSI) slipped slightly from 945 points to 942 points. Average daily time charter equivalent earnings also eased from USD 17,014/day to USD 16,960/day.

For Handysize vessels, earnings on the Black Sea–Mediterranean and Black Sea–Continent routes remained unchanged this week at USD 9,500/day. Earnings on the Black Sea–Far East route likewise held steady at USD 15,000/day, maintaining last week’s level.

On the South America–Continent route, the pace of improvement slowed, with average daily earnings edging up from USD 25,106/day to USD 25,172/day. Far East averages, meanwhile, declined from USD 18,011/day to USD 17,401/day.

Sale and purchase activity remained limited this week.

In the Ultramax segment, only one transaction was reported, with the Chinese-built “Ultra Saka” (2013) changing hands for USD 23.3 million.

In the Supramax market, the 52,000 DWT “VW Trust” (2002) was reportedly sold for USD 8 million.

In the Handysize segment, the 37,000 DWT Japanese-built “Atlantic Star” (2018) was sold for USD 26 million, while the Chinese-built “Suzanna D” (2012) changed hands for USD 12.6 million. In the 35,000 DWT segment, the Japanese-built “Darya Krishna” (2016) was reportedly sold for USD 20 million, while the Chinese-built “Scio Spirit” (2009) fetched USD 14 million. In our view, the price achieved by the latter appears somewhat on the high side.

No coaster sale was reported this week.

We wish you a pleasant week ahead.