Freight Market Report - Week 50, 2025

In Week 50 of 2025, activity in the Black Sea remained muted. The Handysize segment is still affected by a seasonal slowdown: Owners avoid short voyages, prioritizing longer-haul employment. Rates are holding at current levels as Owners resist lower ideas and expect a late-year uptick in cargo volumes in the final two weeks of the year.

Handysize (~30,000 DWT) is trading sideways: demand is below historical expectations, but Owners’ reluctance to discount keeps the market within the Even and Even-Down range on key routes.

Coaster (~5,000 DWT) has dropped by roughly 20% over recent weeks, forming lower Charterers’ ideas in the Azov basin. Some major operators have already covered tonnage for the coming weeks, while a share of Owners continues to hold out for higher levels, risking idle time over the New Year holidays.

Key observations of the week

Handysize: levels supported by Owners’ firm stance and preference for longer voyages.
Coaster: Charterers’ ideas in the high-30s ex-Azov, while Owners target about +10% above these levels; holiday idle-time risk remains.

Weekly takeaway: Handysize is holding on a stable plateau thanks to Owners’ discipline. Coaster, after the recent decline, is trading with an Even-Down bias, and part of the fleet risks idle time into the New Year.

Handysize (~30,000 DWT)

Trade route	Rate (USD/MT)	Trend
POL Novorossiysk → Mersin	20	Even-Down
Novorossiysk → Alexandria	22	Even-Down
Novorossiysk → Morocco	33	Even
Novorossiysk → Bangladesh	44	Even

Coaster (~5,000 DWT)

Trade route	Rate (USD/MT)	Trend
Rostov / Azov → Marmara	37	Even-Down
Rostov / Azov → Izmir	40	Even-Down
Rostov / Azov → Egypt	57	Even
Rostov / Azov → Algeria	59	Even
Astrakhan → NIP	49	Even