Freight Market Overview — Week 48, 2025

In Week 48 of 2025, the Black Sea market remains stable, though pressure from declining grain exports continues to grow. The Handysize segment is holding last week's levels despite weaker demand.

Handysize (~30,000 DWT) demonstrates resilience, even though the overall Black Sea grain market has fallen by 30% with no signs of recovery. The final month of the grain season may temporarily support rates, but overall the market appears to be entering a recession phase.

Coaster (~5,000 DWT) shows slightly higher activity, though the usual seasonal surge in cargo flow did not materialize. Despite a 30% drop in grain traffic, rates were supported by vessel delays in the Kerch Strait.

Key Observations of the Week

Handysize: rates remain unchanged on key routes; the Novorossiysk → Bangladesh direction still shows an Even–Down tendency.
Coaster: delays in the Kerch Strait offset weaker demand and prevented rates from falling.

Weekly Summary: the Handysize segment remains stable ahead of the expected December rate increase, while the Coaster segment is holding due to slower vessel turnover.

Handysize (~30,000 DWT)

Route	Rate (USD/MT)	Trend
Port of 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	48	Even–Down
Rostov / Azov → Izmir	51	Even–Down
Rostov / Azov → Egypt	67	Even–Down
Rostov / Azov → Algeria	68	Even–Down
Astrakhan → NIP	59	Even