Handysize rates in the Mediterranean remain stable amid steady shipments from Ukrainian ports. For example, the rate from the Black Sea to SpanMed averages around $40. The rise in cross-Atlantic market rates is also supported by a shortage of vessels, especially on the US East Coast, where the cost of wheat transportation from New Orleans to Alexandria has increased to $39–40 per ton.

Charter Rates for Supramax:

There is an increase in demand along the East Coast of South America, on the Continent, and in the Mediterranean, which so far has not been offset by the redistribution of tonnage from other regions.

In the Black Sea basin, there is a noticeable recovery in grain exports, as well as metals and coal (to a lesser extent), which continue to drive demand for tonnage.

Regular shipments of Indonesian coal are supporting demand for Supramax/Ultramax tonnage in the Asia–Pacific region, with a slight increase in rates due to growth in the Cross-Atlantic trade and a small reduction in available tonnage in the region. Both Supramax and Ultramax segments show rising rates along the East Coast of South America, the Continent, and the Mediterranean. Stable demand is shaping an optimistic sentiment among shipowners and is reflected in firm offers for prompt cargoes. In addition, demand for cargoes to Northern Europe has slightly increased, supported by rising scrap exports and stable supplies of fertilizers and grain, further driving rate growth. However, from Northern Europe, cargo offers for Supramax tonnage in the Black Sea have not seen significant growth.

Multipurpose Rates

A decline of 2–3% in time-charter rates has been observed due to project delays, unmet expectations of increased demand from the wind energy sector, as well as reduced activity in the market for small parcels of general cargo and raw materials.

Seasonal slowdown, particularly in August–September, has led to a weakening of the market, largely influenced by a decline in the spot market for small lots and containers, although rates remain above the five-year average.

Despite the short-term decrease, the market outlook remains optimistic, with expectations of rate growth in the next 6–12 months. Shipowners continue to actively invest in newbuilding projects, which indicates positive expectations for future demand.

Coaster Rates

A persistent oversupply of tonnage has put pressure on the coaster market in the Mediterranean, resulting in sideways rate trends and negotiations highly dependent on bunker fuel price fluctuations.

Despite limited trader activity, in Northern Europe shipowners are aggressively pushing for higher rates due to seasonal weather risks affecting fleet turnover and positional vessel shortages caused by longer voyage durations. However, charterers are unwilling to accept higher rates.

In the Azov Sea market, heightened demand for Russian wheat shipments, following the temporary export ban, has led to a noticeable increase in rates. Nevertheless, in the short-term perspective, rates are expected to remain at current levels, with potential downward corrections by year-end.

Market overall

BULKER

MPP

Coaster 3-5k wheat 47'SF

Sincerely, Konstantin Grinevich and Glogos Project