Freight Market Report - Week 51, 2025

In Week 51 of 2025, the Black Sea market remained under pressure as year-end liquidity and chartering activity stayed limited. In the Handysize segment, most Owners are already covered through mid-January 2026 and show little interest in short voyages, keeping levels broadly stable despite weak demand.

Handysize (~30,000 DWT) continues to trade in an Even to Even-Down range. With a reduced spot pool and Owners resisting lower ideas, rates are holding, but there is still no clear catalyst for an upward move.

Coaster (~5,000 DWT) remains softer. Trading activity across the region is low, Charterers stay firm, and Owners are attempting to secure the last 2025 cargoes. The current bias stays Even-Down into year-end.

Key observations of the week

Handysize: limited spot availability as Owners are fixed through mid-January; short-voyage appetite remains low.
Coaster: weak regional activity and firm Charterers keep pressure on levels; year-end fixing continues.

Weekly takeaway: Handysize is supported by a tight spot pool and Owners’ discipline, but demand remains insufficient to push rates higher. Coaster stays under pressure with an Even-Down tone as the market moves into the year-end period.

Handysize (~30,000 DWT)

Trade route	Rate (USD/MT)	Trend
POL Novorossiysk → Mersin	19	Even-Down
Novorossiysk → Alexandria	21	Even-Down
Novorossiysk → Morocco	32	Even
Novorossiysk → Bangladesh	43	Even

Coaster (~5,000 DWT)

Trade route	Rate (USD/MT)	Trend
Rostov / Azov → Marmara	36	Even-Down
Rostov / Azov → Izmir	39	Even-Down
Rostov / Azov → Egypt	56	Even-Down
Rostov / Azov → Algeria	58	Even-Down
Astrakhan → NIP	37	Down