Freight Market Report — Week 40, 2025

In Week 40 of 2025, the Handysize segment in the Black Sea remains stable at the end of the grain season, while the Coaster market continues to face upward pressure driven by weather disruptions and extended inspections at the Kerch Strait.

Handysize (~35,000 DWT) rates are holding at last week’s levels, supported by a shortage of spot tonnage in the Black Sea and the Marmara region. A slight easing is anticipated next week.

In the Coaster (~5,000 DWT) segment, pressure persists: weather and additional Kerch Strait checks cause delays, pushing owners towards spot employment while some charterers accept above-market levels to secure tonnage.

Key observations of the week

Handysize: stable rates ex-Novorossiysk to Mersin / Alexandria / Morocco / Bangladesh.
Coaster: upward trend ex-Rostov/Azov and Astrakhan amid delays and tight tonnage.

Weekly takeaway: The market remains mixed: Handysize supported by limited tonnage, while Coaster continues to firm due to Kerch Strait delays.

Handysize (~35k DWT)

Trade route	Rate (USD/MT)	Trend
POL Novorossiysk → Mersin	20	Even
Novorossiysk → Alexandria	22	Even
Novorossiysk → Morocco	34	Even
Novorossiysk → Bangladesh	48	Even

Coaster (~5k DWT)

Trade route	Rate (USD/MT)	Trend
POL Rostov / Azov → Marmara	54	Up
Rostov / Azov → Izmir	57	Up
Rostov / Azov → Egypt	82	Up
Rostov / Azov → Algeria	83	Up
POL Astrakhan → NIP	56	Up