+380 67 625 91 65The freight market situation in the Black Sea remains unstable. Export restrictions on Ukrainian grain and disruptions in the supply of metals and fertilizers continue to exert pressure. Despite occasional bursts of activity, a significant number of deals fall through due to differences in expectations between shippers and shipowners regarding acceptable freight rates. The oversupply of tonnage persists, preventing rate increases, especially amid weak demand for grain transportation. Shipments of scrap metal and steel provide partial support to the market, but their volumes are insufficient to restore rates. In the near term, the market is likely to remain under pressure unless grain export volumes increase and traders become more willing to close deals. Shipowners are hoping for seasonal growth, but currently, there are no strong factors supporting a significant rise in freight rates.
The freight market in the Mediterranean also remains under pressure due to intense competition among shipowners. Many available vessels and moderate cargo volumes prevent freight rates from rising. A slight decline in activity is linked to seasonal factors, particularly holidays, which have temporarily reduced demand for shipments. Steel products remain the primary cargo in the region, while shipments of fertilizers and minerals continue to be at low levels. Given limited alternatives, shipowners are forced to accept lower rates. Unless additional demand for cargo transportation emerges, particularly in the fertilizer and construction materials sectors, pressure on freight rates will persist.
In the Azov Sea, the freight market has shown mixed trends in recent weeks. On the one hand, the number of new cargo offers remains limited; on the other, available tonnage is also scarce due to recent delays caused by severe ice conditions. This has allowed some shipowners to slightly raise freight rates, but overall the market remains tense. The expectations of shippers and shipowners still do not align, making it difficult to close deals. Delays at key ports such as Rostov and Kerch further complicate the situation for vessels seeking to secure more profitable routes. In the coming weeks, improved weather conditions may increase the number of available ships, which is likely to put downward pressure on freight rates.
