News of the freight market as of 09.06.2025

In the Black Sea, the situation remains extremely sluggish and is characterized by a low level of activity on the part of shippers and charterers. Despite the partial outflow of the fleet and the formal reduction in the number of open vessels of the medium-tonnage class, this did not have a noticeable impact on the rates. The main volume of Transportation is concentrated on grain shipments of about 5-6 thousand tons, but even this segment does not show stable demand. Market participants are focused on the new crop, which constrains the volume of current shipments. Some operators are considering minimizing losses, since there are practically no prospects for interest rate growth under current conditions. The lack of stable demand for traditional goods — such as steel, mineral raw materials and Fertilizers-further exacerbates the problem of an imbalance in tonnage and cargo flow. In the near future, recovery is not expected: most likely, the market will remain in an inert phase until the mass release of grain of the new crop.

The Mediterranean Sea remains a difficult region for shipowners of a low-tonnage fleet. Tonnage significantly exceeds the volume of available cargo, especially in the grain and steel segments, where shipments occur irregularly. Fertilizers remain the only more stable source of cargo traffic, but even here shippers tend to achieve rates lower than the previous ones. Charterers confidently dictate terms, taking advantage of the abundance of open fleet offers. Deals are most often made with an emphasis on minimizing costs, and flights with one loaded leg do not compensate for losses from Return crossings. Market players ‘ expectations are still subdued: there are no signs that demand will increase in the coming weeks, especially against the background of low activity of importers. The market could be supported by the stabilization of trade in mineral raw materials, but in the current conditions this is not happening yet. Overall, the outlook remains unfavorable, and shipowners will have to continue operating in conditions of high competition and low margin flights.

In the Sea of Azov, the market picture looks almost frozen: the number of requests for transportation is extremely small, and the available tonnage significantly exceeds the available demand. The main cargoes, such as wheat, peas and coal, are presented minimally, and the routes themselves are limited to short crossings, which do not allow charterers to raise rates. The level of rates for long-distance flights remains at the bottom, despite attempts to charter vessels for the transportation of products in the eastern and southern directions. In fact, the market is in a state of stagnation, and transactions are concluded only if expectations on the part of shipowners are significantly reduced. The lack of new cargo offers, especially grain, makes the region unattractive for the freight fleet. At the same time, the seasonal factor has not yet worked, as the volume of the new crop has not yet reached the ports. Taking into account all conditions, no changes are expected in the short term, and the market will continue to be in low activity.