News of the freight market as of 15.12.2025

The freight market in the Black Sea is currently being formed under the influence of weakened cargo demand and an increase in the supply of ships on spot dates. The activity of shippers remains limited, primarily for grain and metallurgical cargoes, which reduces the intensity of new transactions. Shipowners are trying to maintain freight levels due to flexible conditions and a focus on smaller shipments, but pressure from the growing fleet is gradually increasing. An additional deterrent factor is the seasonal slowdown in trading and the cautious position of traders. At the same time, the market maintains a relative balance due to the absence of sharp spikes in the supply of cargo or ships. In the short term, freight levels are likely to fluctuate in a narrow range without a pronounced upward momentum if cargo traffic does not intensify.

The situation in the Mediterranean is characterized by a gradual cooling of the market after a more active period, while the number of available vessels continues to grow. Shippers take a wait-and-see attitude, postponing some shipments, which reduces competition for tonnage. Shipowners are still striving to defend their terms, but are increasingly forced to make compromises to ensure fleet employment. A significant role is played by the seasonal factor and the general decline in business activity, which limits the formation of new cargo programs. In the absence of new demand drivers, the market is gradually shifting towards a more cautious pricing policy. Freight in the region is expected to maintain a moderately downward trend or stabilize at current levels in the near future.

The cargo market of the Sea of Azov remains the most vulnerable and is under significant pressure due to a shortage of fresh cargo offers. The reduction in grain and coal exports significantly limits the loading of the fleet, which leads to increased competition between shipowners. Even with favorable navigation conditions, the excess tonnage does not allow the market to find a point of equilibrium. Shippers use the situation to renegotiate terms, while shipowners focus on minimizing downtime. Overall activity remains low, and transactions are sporadic. In the near term, the market is likely to continue to be under pressure, and only worsening weather conditions or an unexpected revival in cargo traffic may temporarily stabilize freight levels.