Freight Market Overview - Week 47, 2025

On Week 47 of 2025, the Black Sea market remains stable. The Handysize segment shows no visible increase in cargo activity compared with the previous week, while Owners continue to expect a seasonal rate uplift toward the end of November.

Handysize (~30,000 DWT) remains firm: charterers are not ready to accept higher rate levels despite market expectations, but shipowners keep their rate ideas stable and resistant to discounts.

The Coaster segment (~5,000 DWT), by contrast, faced a short-term tonnage shortage: vessel traffic into the Azov Sea was suspended for several days following drone attacks in the Kerch Strait. This interruption reduced the number of spot-open vessels and stopped the previous downward trend, keeping rates at last week’s levels despite weak demand from Turkish grain importers.

Key observations of the week

Handysize: rates stay unchanged on Novorossiysk - Mersin / Alexandria / Morocco, while Novorossiysk - Bangladesh trades with a slight even-to-down tendency.
Coaster: a temporary tonnage shortage has halted further rate declines and kept the market at last week’s levels.

Weekly takeaway: the Handysize segment remains stable and supported by seasonal expectations, while the Coaster market has temporarily stabilised due to restricted vessel availability in the Azov Sea.

Handysize (~30,000 DWT)

Route	Rate (USD/MT)	Trend
POL Novorossiysk - Mersin	20	Even
Novorossiysk - Alexandria	22	Even
Novorossiysk - Morocco	33	Even
Novorossiysk - Bangladesh	47	Even - Down

Coaster (~5,000 DWT)

Route	Rate (USD/MT)	Trend
Rostov / Azov - Marmara	46	Down
Rostov / Azov - Izmir	49	Down
Rostov / Azov - Egypt	67	Down
Rostov / Azov - Algeria	68	Down
Astrakhan - NIP	59	Even