Freight Market Report — Week 42, 2025

This week the Black Sea freight market shows mixed dynamics. The Handysize segment remains active on the back of stronger exports, yet rates stay under downward pressure as available tonnage expands. The Coaster market, after last week’s decline, has stabilized around current levels.

Handysize (~30,000 DWT) — fixing activity increased over recent weeks. Despite this, the broader grain market remains subdued. Owners attempt to keep rates steady, while growing vessel supply and Charterers’ resistance keep the market soft.

Coaster (~5,000 DWT) — expectations of a further drop to 45–46 $/mt ex-Azov to Marmara did not materialize. The market is holding around 53–55 $/mt. Limited grain orders and ruble stability prevent sufficient demand to firm rates.

Key observations of the week

Handysize: stable levels ex-Novorossiysk to Mersin / Alexandria / Morocco / Bangladesh; Owners holding, Charterers still pushing down.
Coaster: market stabilized near 53–55 $/mt ex-Azov → Marmara; muted demand and ruble stability cap upside.

Weekly takeaway: Split market: Handysize remains active but soft due to ample tonnage; Coaster steadies after the drop, holding near 53–55 $/mt.

Handysize (~30k DWT)

Trade route	Rate (USD/MT)	Trend
POL Novorossiysk → Mersin	20	Even–Down
Novorossiysk → Alexandria	22	Even–Down
Novorossiysk → Morocco	34	Even–Down
Novorossiysk → Bangladesh	50	Even–Down

Coaster (~5k DWT)

Trade route	Rate (USD/MT)	Trend
POL Rostov / Azov → Marmara	54	Down
Rostov / Azov → Izmir	57	Down
Rostov / Azov → Egypt	78	Down
Rostov / Azov → Algeria	80	Down
POL Astrakhan → NIP	61	Even