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The maritime sector is characterized by a dynamic market structure, monitored through freight rates and indices between different regions. Last week, the freight rates for the Azov-Marmara route for 3,000 tons remained stable at around $38-39 per ton. A similar situation was observed on the Rostov-Marmara route, where the average freight rate reached $41 per ton. The Rostov-Mersin route, meanwhile, maintained prices between $65-67 per ton.
In the conventional coaster market, the 5,000-ton steel shipments between Novorossiysk and Marmara held steady at $21-22 per ton, while wheat shipments were priced between $22-23 per ton. Freight rates on the Izmail/Reni-Marmara route increased from last week’s $22-23 per ton to $24 per ton this week.
The Baltic Dry Index (BDI) continued to lose ground, dropping from 1,821 points to 1,628 points this week. A similar decline was observed in the Baltic Supramax Index (BSI), which fell from 1,331 points to 1,261 points. The average daily earnings for Supramax vessels also decreased from $14,638 to $13,866.
In the Handysize segment, the Baltic Handysize Index (BHSI) fell from 772 points to 735 points, while the average global earnings decreased from $13,898 per day to $13,239 per day.
Vessel Sales and Market Dynamics
Vessel sales in the maritime market are significant indicators reflecting the quality of ship construction and design, as well as the overall state of the market. This week’s notable sales included the 2018-built Ultramax "New Champ," which sold for $32.5 million. The 2016-built Japanese Supramax "Nord Seal" was purchased for $28 million. The 20-year-old Chinese-built "Seaboss" went for $11.7 million, a high price attributed to its construction by NACKS.
In the Handysize segment, the 2019-built "Atlantic Prism" sold for $28.5 million, while the similarly aged Japanese-built "FW Excursionist" went for $27 million. These sales demonstrate how high-quality designs create a difference in the market.
The market shows a dynamic structure with price variations between ship ages and designs, making timing crucial for buyers and sellers.