Freight Market Review - Week 1, 2026

By mid-January, the dry bulk freight market in the Black Sea region maintains a stable and moderately firm tone. In the Handysize segment, balanced tonnage supply and steady cargo flow (mainly grains and fertilizers) continue to support the market, although low spot activity limits upside potential. In the Coaster segment, the market remains slow and highly dependent on weather and logistical factors.

Handysize (~30,000 DWT) remains stable, closer to a firm tone. Cargo flows from Novorossiysk and Kavkaz continue, with tonnage supply remaining balanced. Charterers are largely observing and remain inactive in the spot market, while Owners show no willingness to reduce levels. At the same time, a lack of fresh spot enquiries continues to cap further upward movement in rates.

Coaster (~5,000 DWT) is characterized by limited activity and is supported mainly by contractual cargoes. Spot demand remains very weak, with almost no new spot fixtures reported. Adverse weather conditions in the Black Sea have further restricted operations, while the temporary closure of the Kerch Bridge (expected to last up to two weeks) has increased uncertainty and negatively impacted logistics and cargo flows.

Key observations of the week

• Handysize: balanced tonnage and steady cargo flow support the market, but low spot activity limits further growth.
• Coaster: a slow market, with weather-related and logistical constraints reducing liquidity and fixing activity.

Handysize (~30,000 DWT)

Coaster (~5,000 DWT)