Dearth of tonnage in the Black Sea river-sea coaster market pushed freight rates even higher this week. On the Azov-Marmara route, 3,000-tonne wheat lots were transported at $51-52/tonne instead of $44-45/tonne. On the Rostov-Marmara route, freight rates rose from $46-47/tonne to $53-54/tonne. Finally, on the Rostov-Mersin route, freight rates rose from $66-67/tonne last week to $71-72/tonne. For the sake of accuracy, some sources mention these freight rates being at least $5/tonne higher.

There are no changes in freight rates for cargoes departing from Novorossiysk in conventional coaster markets, and availability remains low. Freight rates for 5,000 tonnes of steel cargo transported on the Novorossiysk-Marmara route are around $17-18/tonne, while freight rates for 5,000 tonnes of wheat are around $18-19/tonne.

Freight rates for 6,000 tonnes of grain transported from Reni and Izmail to Marmara rose from $21/tonne last week to $22/tonne this week.

The Baltic Dry Index (BDI) for large tonnage fell sharply, dropping from 2,259 points to 1,901. The Capesize index plummeted this week. Panamax and Supramax tonnages also saw significant declines.

The Baltic Supramax Index (BSI) fell from 1,479 points to 1,447 points. Average revenues also declined from $18,698 per day to $18,288 per day.

Looking at routes, freight rates on the Black Sea-Far East route rose from $20,900/day to $22,017/day despite the overall decline. Yields on fixtures from the Gulf of Mexico to the Far East corrected from $31,786/day to $31,664/day. Far East averages also fell this week, declining from $15,850/day to $14,956/day.

The Baltic Handysize Index (BHSI), on the other hand, moved in the opposite direction to the other indices, rising from 841 points to 868 points. The average daily revenue also increased from $15,130 per day to $15,616 per day.

Handysize daily revenues also improved for the Black Sea, Mediterranean, and Continent routes, rising from last week's level of $12,500/day to $13,000/day. In the Far East, daily rates rose from $14,000/day to $15,000/day.

Revenues on the South America-Continent route continued their upward trend for the third consecutive week, rising from $23,256 per day last week to $23,917 per day. Average revenues in the Far East markets fell this week from $13,163 per day to $13,154 per day.

Let's close with sales again…

This week, the 2016 Japanese-built Ultramax with the funny name “Draftdodger” (66K DWT) changed hands for $26.2 million. The 2015 Chinese-built “Beauty Lily” (64K DWT) sold for $22.25 million. The 2021 Chinese-built “Great Vista” changed hands for $27.8 million.

In Supramax sales, the 2011 Philippine-built 58K DWT “Ecuador L” went for $16.5 million. The 2009 Chinese-built 58K DWT “Vita Harmony” changed hands for $13.8 million, but the ship was built by TESS Zhoushan. The 2011 TESS Zhoushan-built “Darya Noor” was sold for just over $15 million.

As for handysize vessels, the 2012 Japanese-built 33K DWT “Trawind Roc” was sold for $13.6 million. The 2012 Chinese sister ships “Yangtze Classic” and “Yangtze Dignity” were sold for $9 million each.

No coaster sales were reported this week either.

We bid you a great week ahead...