Freight rates for river and sea vessels have steadily increased. There has been a rise in Turkey's demand for Russian wheat. Waiting times in the Kerch Strait continue. Freight rates on the Azov-Marmara route for 3,000 tons increased from the previous week's $37-38 per ton to $38-39 per ton. On the Rostov-Marmara route, freight charges approached $40 per ton and tested levels of $41 per ton. The Rostov-Mersin route saw freight rates rise from around $62-64 per ton to $65-67 per ton.
In the conventional coaster market, the freight for 5,000-ton steel shipments from Novorossiysk to Marmara made a minor correction from $20-21 per ton to $21-22 per ton after a long period of stagnation. However, wheat shipments on the same route remained steady at $22-23 per ton. This week, freight for 5,000-ton Izmail/Reni to Marmara dropped from around $26-27 per ton to $22-23 per ton.
The Baltic Dry Index (BDI) plummeted sharply from 2,196 points to 1,821 points. This drop was influenced not only by Capesize and Panamax classes but also by other tonnage categories.
The Baltic Supramax Index (BSI) fell from 1,383 points last week to 1,331 points, a drop of 50 points. Looking at average Supramax earnings, daily income decreased from $15,212 to $14,638. Transportation rates from the Black Sea to the Far East did not fall sharply, decreasing from $27,617 per day to $27,192. Gulf of Mexico to Far East route earnings reverted to $22,043 per day from last week's $24,686. Average earnings in Asia dropped from $14,228 per day to $13,571.
The Baltic Handysize Index (BHSI) also followed a similar trend, dropping from last week's peak of 795 points to 772 points. The average global Handysize earnings softened from $14,309 per day to $13,898. Intra-Mediterranean daily earnings decreased from around $13,000 to $12,500, while Black Sea-Continent route remained stable at around $13,000 per day. Earnings for departures from the Mediterranean to the Far East remained steady at $22,000 per ton, and South America-Continent freights decreased from $20,236 per day to $19,894. The average earnings in Asia continued to decline to $13,452 per day.
Regarding ship sales, there was no report of an Ultramax sale this week. The 2012-built Vietnamese 56K Supramax vessels “Arkadia” and “Kumpula” were sold in a block deal to Turkish buyers for $37.1 million. The 2010-built Chinese vessel “Chang Shan Hai” was sold to Greek buyers for $13.75 million.
In the Handysize sector, the 2019-built Philippine vessel OHBS “Sider Harmony” was sold for $28.5 million, while the 2009-built Japanese 37K DWT “Sunrise” changed hands for $15 million. The 2010-built Chinese 32K DWT “New Legend Pearl” was sold for $10.2 million.
No coaster sales were reported during this period.