Freight Market Report — Week 40, 2025

In Week 40 of 2025, the Handysize segment in the Black Sea remains stable at the end of the grain season, supported by a shortage of spot tonnage. Meanwhile, the Coaster market continues to face upward pressure due to adverse weather and extended inspections at the Kerch Strait.

Handysize (~35,000 DWT) rates are holding steady compared to last week, with demand cooling slightly but balanced by limited vessel supply in the Black Sea and Marmara region. Rates are expected to ease slightly next week.

In the Coaster (~5,000 DWT) segment, pressure persists: poor weather conditions and additional Kerch Strait inspections are causing delays, forcing owners to prefer spot employment while charterers are paying above-market levels to secure prompt tonnage.

Key observations of the week

Handysize: stable rates ex-Novorossiysk to Mersin, Alexandria, Morocco, and Bangladesh, with balance maintained by limited tonnage.
Coaster: increasing pressure on Kerch Strait passages; upward trend recorded ex-Astrakhan.

Weekly takeaway: The market remains mixed: Handysize supported by limited tonnage, while Coaster continues to face upward pressure due to Kerch Strait delays.

Handysize (~35k DWT)

Trade route	Rate (USD/MT)	Trend
POL Novorossiysk → Mersin	20	Even
Novorossiysk → Alexandria	22	Even
Novorossiysk → Morocco	34	Even
Novorossiysk → Bangladesh	48	Even

Coaster (~5k DWT)

Trade route	Rate (USD/MT)	Trend
POL Rostov / Azov → Marmara	54	Up
Rostov / Azov → Izmir	57	Up
Rostov / Azov → Egypt	82	Up
Rostov / Azov → Algeria	83	Up
POL Astrakhan → NIP	56	Up

Sincerely, Konstantin Grinevich and Glogos Project