Freight Market Report — Week 44, 2025

During Week 44 of 2025, the China–Russia project cargo corridor remained active. Chinese shipowners continued to strengthen their presence in the multipurpose (MPP) market, while weather-related disruptions at the port of Pevek impacted schedules and deliveries to Russia.

Project cargo tonnage (MPP) — several Chinese operators finalized the acquisition of additional heavy-lift/multipurpose vessels, expanding capacity for oversized and heavy equipment deliveries to Russia. Increased vessel availability is adding competitive pressure on rates.

Port of Pevek — impact of delays — discharging queues caused by poor weather and limited infrastructure delayed vessel arrivals in China and subsequent sailings to Russia, forcing shippers and charterers to revise schedules and accept longer transit times.

Key observations of the week

• Chinese fleet expansion: additional heavy-lift/MPP units support Russia-bound logistics and widen access to specialized tonnage for Arctic and Far-Eastern projects.
• Rates under pressure: more competitive offers from Chinese owners keep project cargo freight levels slightly down.
• Pevek delays: vessel downtime and schedule revisions persist; Russian consignees face project timing risks and potential cost impact.

Project cargo rates (USD/FRT)