News of the freight market as of 20.10.2025

Activity in the low-tonnage segment remains in the Black Sea, despite signs of a short-term slowdown at the beginning of the week. Shippers continue to actively form shipments of grain, and the limited number of available vessels creates tension in the market. Shipowners take advantage of the fleet shortage situation by maintaining the achieved freight levels and, in some cases, achieving a small increase in rates. An additional support factor remains the steady flow of applications for the transportation of agricultural goods from the ports of Ukraine, which forms the basic demand for tonnage. Weather conditions and unstable logistics continue to affect the delivery schedule, but their effect is short-term. The market as a whole is showing resilience, and participants expect further recovery with the development of export programs for corn and wheat. The forecast for the coming weeks indicates the continuation of positive dynamics with a moderate increase in rates in the context of a continuing shortage of tonnage.

In the Mediterranean, the freight market remains in a state of equilibrium with a moderate increase in activity in the segment of fertilizers, grain and metal products. Shippers show interest in new deals, but they do it carefully, preferring short-term flights. Shipowners, in turn, are trying to strengthen their positions using local surges in demand, but overall rates have stabilized after a gradual increase observed earlier in the fall. Operating costs remain a limiting factor, which in some cases are already approaching profitability levels, reducing interest in long-haul routes. At the same time, the market situation remains balanced, and the overall fleet utilization level is close to optimal. Market participants are cautiously positive, hoping for a gradual increase in demand amid the expansion of trade in agricultural and industrial goods at the end of October. The forecast for the near future assumes the maintenance of current freight levels with local fluctuations depending on the activity of shipowners.

There is a steady increase in rates in the Sea of Azov after a short period of decline caused by temporary saturation of the market. The shortage of river-type vessels in available positions remains acute, which forces shippers to accept increased freight levels. Activity in the grain segment remains stable, especially in the direction of the ports of the Marmara Sea, where there is still high interest from Turkish buyers. Shipowners are taking advantage of the situation, seeking favorable terms and forming positive expectations regarding further rate increases. The strengthening of the national currency and the adjustment of export duties affect the purchasing activity of traders, but do not reduce the demand for transportation. In the short term, the Azov Sea market will maintain an upward trend, and with continued shipments and fleet shortages, further increases in freight rates are possible.