News of the freight market as of 07.07.2025

In the Black Sea, the market for small-tonnage vessels remains sluggish. Despite the start of the grain season, shippers have not yet demonstrated their willingness to increase rates, and most deals are concluded at minimum levels. The continued surplus of a free fleet allows shippers to dictate terms, especially in short-haul and fixed logistics. Shipowners are trying to keep tariffs at least at the level of operating profitability, but the pressure remains strong. The actual transportation on the main routes, including shipments of soybeans, corn and wheat, does not lead to a steady increase in freight. Attempts by individual players to raise the stakes at the expense of long-haul destinations are not becoming the market norm. Against the background of moderate demand and high competition from other ports, rates are unlikely to change upward in the coming weeks.

In the Mediterranean, there is a moderate revival of activity among shipowners, although the overall picture remains subdued. The mood has become a little more optimistic amid expectations of an increase in grain flow from the Black Sea, but in practice, cargo supplies in the region itself are still limited. The beginning of the holiday season in European countries additionally affects the activity of charterers, reducing the turnover of transactions. The routes for fertilizers and steel are most actively recorded, where charterers are ready to work with clear deadlines and agreed conditions. There has been a slight increase in grain shipments from the Eastern Mediterranean to Italy and Spain, but this has not yet had a significant impact on rates. Shipowners are trying to gain a foothold at the achieved levels and are ready to bargain within the framework of positions, but without sudden price movements. The forecast for the region remains neutral with a likely local increase in rates, subject to an increase in grain flow from the northern ports.

In the Sea of Azov, the market maintains a positive trend, supported by an increase in shipments of grain from the new harvest. Shipowners strive to keep freight at a level that ensures at least minimal operational efficiency, and in some cases, to increase rates by sending them to more remote markets. However, the continued surplus of the fleet and active opposition from shippers limit the growth potential. At the same time, the demand for supplies of barley and wheat to Turkey and the countries of the Eastern Mediterranean forms a local support for the rates. Shipowners are becoming more selective in accepting cargo, abandoning non-core or too cheap flights. Coal cargoes remain secondary, but retain their presence in the transportation structure. In the coming weeks, the situation may develop in favor of shipowners if the volume of grain shipments continues to grow and the market avoids overheating from the supply side of tonnage.