News of the freight market as of 17.11.2025

In the Black Sea, activity is determined by a combination of a limited fleet and a gradual increase in grain shipments, which increases competition between shippers for available tonnage. Shipowners maintain a strong position due to the reduced list of open vessels and stable demand for transportation of agricultural products. Weather factors periodically create delays, which reduces the predictability of ship exits and increases the burden on logistics planning. The irregular arrival of grain shipments also affects the dynamics of negotiations, as shippers are forced to flexibly adjust to the ship readiness window. Despite the moderate caution of the market, export programs are beginning to revive, which supports the overall balance. The restrained but steady growth in activity creates the basis for a gradual strengthening of freight rates. In the coming weeks, we can expect a moderate increase in tonnage demand, especially with an acceleration in corn exports.

In the Mediterranean, the market situation is formed under the influence of stable cargo traffic and a relatively limited presence of shipowners, which makes it possible to keep the freight dynamics in a balanced state. Shippers are highly selective when forming shipments, focusing on the readiness of ships and the ability to optimize routes. Logistics chains in the region are showing resilience, but the overall pace of demand remains variable, which creates a heterogeneity in activity across the board. Seasonal changes in cargo structure affect fleet loading, increasing fluctuations in tonnage availability. Shipowners are trying to consolidate their positions, avoiding excessive concessions in rates, relying on the balance between supply and demand. As a result, market sentiment remains stable, although the potential for acceleration does not look significant. In the short term, the current balance is likely to be maintained with slight fluctuations in the direction of strengthening with an increase in grain shipments.

In the Sea of Azov, the market is highly dependent on the availability of highly specialized tonnage, which makes it particularly sensitive to any changes in the activity of shippers. Shipowners use a limited number of suitable vessels, which makes it possible to keep rates at a stable level with even moderate demand. Periodic delays on approaches and weather restrictions increase the shortage of vessels, which reduces the flexibility of schedules and expands loading time windows. Shippers are forced to plan shipments taking into account possible downtime, which makes the market more sluggish. The restrained trading activity is partially offset by the growing interest in the supply of individual grain crops, which increase the overall load of the fleet. Despite moderate volatility, the region remains balanced and shows a tendency towards a gradual consolidation of demand. As the intensity of export programs increases, a gradual strengthening of rates and a decrease in the availability of available vessels is likely at the end of the season.