The maritime industry constantly experiences fluctuations in freight rates and ship sales under ever-changing economic conditions. This week, significant changes were observed in both Black Sea and international waters regarding transportation and sales.
Current Freight Rates
This week, freight rates for transports between Azov and Marmara based on 3,000 tons remained stable at $35/ton. The Rostov-Marmara route saw a decrease from last week's $37-38/ton to $36-37/ton. Additionally, freight rates on the Rostov-Mersin route fell from $63-64/ton to $62-63/ton.
In the conventional coaster market of 5,000 tons, Novorossiysk-Marmara steel transports remained stable at $21-22/ton, and wheat transports continued at $22-23/ton. Freight rates for the same tonnage of coke coal from Novorossiysk to Zonguldak dropped from $16/ton to $14/ton. Freight from Reni to Marmara for steel transportation also fell from $22-23/ton to $20-21/ton.
Changes in Indices and Revenues
The Baltic Dry Index (BDI) for large tonnage started the week at 1,919 points and closed at 1,721 points. The Baltic Supramax Index (BSI) continued its upward trajectory from 1,394 points to 1,495 points, showing positive momentum. Supramax revenues also rose from $15,338 per day to $16,441 per day, marking the highest level since December 2023.
Daily revenues from the Black Sea to the Far East increased from $26,275 to $26,592. Revenues on the Gulf of Mexico-Far East route rose from $22,711 to $23,221. Asian averages also increased from $14,664 to $16,331 per day.
The Baltic Handysize Index (BHSI) rose from 741 points to 751 points. Global Handysize revenues increased from $13,334 to $13,523 per day.
Ship Sales of the Week
This week saw several sales, particularly in the Supramax tonnage. Three sister ships built in China in 2013 with a capacity of 56K DWT, "Yi Long Shan," "Wu Gui Shan," and "Fu Quan Shan," were each sold for $15 million. The 2011-built "Dayang Orient" found a buyer at auction for $12.7 million.
The Japanese-built 2011 model "Ecoocean" went for $18.2 million, while the 2012-built "Amira Miro" sold for $19 million. The 2016 Croatian-built 52K DWT "Valovine" found a new owner for $17 million with a short-term charter contract included.
In the Handysize segment, there were limited sales. The 2012 Japanese-built 33K DWT "Atlantic Laurel" was sold for $15.25 million, and the 2008 model "Graceful Gertrude" went for $12.3 million.
The shipping market continues to attract attention with both changes in freight rates and high-volume ship sales. We'll see what the coming weeks bring in this dynamic sector.