News of the freight market as of 03.11.2025

In the Black Sea area, the freight market is showing moderate activity with a continuing shortage of free tonnage. Shippers are facing a slowdown in grain shipments to ports due to rains and difficult weather conditions, which is forcing some of them to postpone shipments. Shipowners, in turn, take advantage of the limited supply of vessels, keeping freight rates at a stable level. The holidays in Turkey further reduced the intensity of trading, but did not have a significant impact on the market balance. Against this background, shippers are cautious when concluding new contracts, preferring short-term deals to fix conditions before a possible change in the weather. Despite the decrease in the pace of transportation, the market remains positive, as the limited tonnage supports the positions of shipowners. The forecast indicates a gradual revival of activity in early November, when mass shipments of new-crop corn will begin and the rhythm of exports will recover.

In the Mediterranean, the freight market remains stable, despite moderate volumes of offers for major cargoes. Shipowners are taking advantage of the deteriorating weather conditions and the shortage of open vessels, which allows them to achieve a small increase in rates. Shippers, on the contrary, try to contain the cost of transportation by using a slow flow of transactions and carefully forming batches. The main impact on the market is exerted by activity in the transportation of fertilizers, building materials and agricultural goods, which form the loading base for the fleet. Despite the limited number of transactions, the market remains stable due to the fact that shipowners confidently hold their positions. Logistical difficulties in individual ports only increase the interest in early booking of ships. In the coming weeks, the current dynamics are expected to continue, with a possible increase in activity as weather conditions improve and demand for grain supplies increases.

There is a decrease in freight rates in the Sea of Azov against the background of a seasonal decline in activity. The decline in business activity in Turkey and the limited flow of export cargo from river ports affect the overall volume of transactions. Despite the fact that tonnage remains limited, the balance is gradually shifting in favor of shippers seeking more favorable terms. Shipowners are forced to make concessions in order to keep the fleet loaded, especially in anticipation of the imminent closure of river navigation. At the same time, grain exports continue to be the main direction of transportation, supporting the overall employment level of the fleet. The situation is complicated by the increase in export duties on wheat, which reduces the margin of traders and affects the volume of new contracts. In the short term, a mild downward trend in rates is forecast to continue, with a gradual decrease in activity due to the end of the season.