News of the freight market as of 21.07.2025

In the Black Sea, the low-tonnage tonnage market has stabilized after a short-term surge in activity at the beginning of the grain season. The number of new offers from shippers, especially from the territory of Ukraine, has decreased, which limits the opportunities for higher rates. Shipowners were able to achieve a small increase in freight only in certain areas, for example, from the ports of Romania and Bulgaria, where there is a stable demand for grain. The flow of goods from the EU countries looks a little more active, but the range of counter rates remains wide, and the estimated profitability of transactions varies greatly. The metallurgical segment also does not make a significant contribution to the revival of the market: demand for semi-finished products remains sluggish, especially from Turkey and EU countries. In general, the current situation is characterized by limited activity on the part of shippers and high sensitivity to external trade impulses. No significant changes in the market picture are expected in the short term.

Weak market activity remains in the Mediterranean direction, with a slight decrease in the number of available vessels. Despite this, shippers do not demonstrate a willingness to increase volumes, which makes attempts by shipowners to strengthen rates ineffective. Trade in fertilizers and individual agricultural products, including grain and salt, remains key segments, but the number of transactions remains limited. The average rate level for most routes remains at the previous values, and any attempts to go beyond these limits are met with stiff resistance from shippers. The holiday season and sluggish demand for metal products add to the overall picture of stagnation. The only area where there is a slight recovery remains shipments of urea and individual wood shipments. The situation is unlikely to change in the near future, unless active grain exports from neighboring regions begin.

In the Sea of Azov, the freight market has reached a point of equilibrium after three weeks of growth. The flow of grain offers from shippers remains insufficient for further rate increases, and the market has entered a stabilization stage. Shipowners continue to maintain their positions at the achieved level, especially on destinations to Turkey and the Mediterranean, but resistance from shippers is increasing. Long-distance destinations are still relatively attractive, but their volumes are insignificant and do not have a systemic impact on the market. Against the background of high competition in the coal segment, shippers are trying to return freight rates to previous levels. In general, the market is characterized by restrained optimism on the part of shipowners and a wait-and-see attitude on the part of shippers. The prospects remain moderately stable, while the dynamics will depend on the level of grain supply and the response to new tender requests.