South Atlantic Supramax/Ultramax rates remain firm this week, with active fixing in ECSA and WAfr supported by tight 1H July tonnage supply, vessel delays and firmer Panamax levels. Handy demand is also steady on a shorter tonnage list, although rates are mostly holding rather than moving sharply higher.
Fresh fixtures & Handysize/Supramax assessments

Baltic & Continent coaster freights remain under pressure, with moderate cargo demand and a long tonnage list keeping charterers in a stronger position. Owners are trying to resist further rate declines, pointing to bunker price volatility, but recent grain, steel and mineral discussions still indicate a generally depressed short-sea market.

Fresh fixtures

Asia-Pacific Panamax/Kamsarmax freights are showing marginal improvement this week, supported by typhoon-related schedule disruptions around China and Taiwan and a slight recovery in Indonesian coal activity. Fresh fixtures from Indonesia, Australia and NOPAC suggest owners are gaining some support, though the overall firming remains moderate.

Fresh fixtures

Mediterranean coaster freights have softened further this week, as the growing cargo/tonnage imbalance continues to pressure owners despite slightly higher bunker prices. Recent steel and agricultural fixtures across Italy, Greece, North Africa and Marmara indicate generally weak daily returns.

Fresh fixtures & coaster assessments

Azov Sea coaster freights remain at bottom levels, with market activity still extremely limited amid sporadic wheat and coal shipments. A modest increase in barley offers has provided little support, while current grain and coal indications continue to reflect weak daily returns.

Fresh fixtures & coaster assessments

Black Sea and Mediterranean Supramax/Ultramax freights continue to strengthen, supported by gradually improving activity and firmer Atlantic demand, while Handysize gains remain more modest. Fronthaul and long-haul business is commanding stronger returns, although Ukrainian grain cargoes still show a wide gap between charterers’ ideas and owners’ expectations.

Fresh fixtures & Handysize/Supramax assessments

Although no official order has been issued regarding the closure of either the Kerch Strait or the Azov Sea, the de-facto administration has stopped accepting transit applications from the Black Sea side on the evening of 10 July. Nevertheless, market participants note that loaded vessels departing the Azov Sea are still permitted to transit the Strait into the Black Sea

On the morning of July 13, Russian drones attacked the Aida, a ship that had delivered a 9,000 t shipment of fertilizer from Aqaba to Odesa. At least 5 crew members are reported to have been killed and 10 wounded. According to market participants, given the horrific consequences of the attack and considering a possible further escalation by Russia, JWC may soon raise its AWRP/EWRI rate recommendations. Crew bonuses are almost certain to rise in this situation as well.

Ukraine’s deep-water grain export market has been effectively blocked after several bulk carriers were reportedly hit or damaged during the latest Russian attacks, ISM sources report.


Louis Dreyfus Company, COFCO, Kernel, NIBULON and Bunge have reportedly suspended grain purchases on a CPT Ukrainian port basis, while Continental Farmers Group has stopped origination. Some shipowners are also cancelling Charter Parties and declaring Greater Odesa ports unsafe.

One of the vessels reportedly affected was the MV Star Venture, which was expected to load approximately 31,000 t of Bunge corn at Chornomorsk for shipment to Italy. The vessel was reportedly hit while at anchor. The incident and cargo details have not yet been officially confirmed.

According to ISM sources, some vessels approaching Ukrainian ports to discharge cargoes, including fertilizers, have anchored outside Ukraine’s territorial waters. Their operators are considering further action amid concerns over possible Russian drone and missile attacks.

Many owners are currently refusing to call at Greater Odesa ports. However, some remain prepared to consider voyages through Reni or Izmail, which are perceived as relatively safer alternatives.

https://ismreport.com/freight-chartering/16160-trade-in-ukrainian-grain-stalls-as-major-traders-halt-purchases-while-owners-cancel-port-calls

Black Sea small-tonnage freights are moving in sharply different directions: rates ex Ukraine are rising as owners become increasingly reluctant to call local ports, while gains from Russian deepwater ports remain limited by heavy competition from displaced sea-river tonnage. At the same time, cargoes from Bulgaria, Romania and Georgia are under strong pressure as the regional vessel list expands following the closure of the Azov Sea market.

Fresh fixtures & coaster assessments

Mediterranean small-tonnage freights remain challenging for owners, with sluggish cargo flow and a long tonnage list keeping charterers in a stronger negotiating position. Rates have broadly stabilized at last week’s levels, supported by firmer bunker prices, but pressure persists across grain, fertilizer, mineral and steel shipments.
Fresh fixtures & coaster assessments

Black Sea large-tonnage conditions remain highly fragmented: Handysize voyage rates for non-Ukrainian and non-Russian cargoes are under pressure despite higher Mediterranean bunker costs, while Supramax/Ultramax levels continue to firm amid limited open tonnage. Ukraine- and Russia-related trades still command substantial risk premiums, with owners increasingly cautious following the escalation.

Fresh fixtures & Handysize/Supramax assessments

North Atlantic Supramax/Ultramax rates remain broadly stable, with owners still benefiting from solid transatlantic demand and premiums for dirty cargoes into the East Mediterranean and India despite a slightly longer tonnage list. The US Gulf Handysize market is softer, as vessel supply outpaces demand and charterers test lower levels amid limited fixing activity and higher oil prices.
Fresh fixtures & Handysize/Supramax assessments

North European coaster freights remain under pressure as limited cargo availability and very low charterers’ ideas continue to weigh on owners, while rising bunker prices further erode earnings. Indicative rates have nevertheless held broadly stable across Baltic, Continent and UK routes, offering owners some resistance in a challenging market.

Fresh fixtures

Asia-Pacific Panamax/Kamsarmax freights have weakened as slower NOPAC grain and Australian coal activity allows tonnage lists to build across key export areas. Recent Indonesia, Australia and Far East fixtures reflect softer overall conditions, although selected Australia–India coal runs continue to provide comparatively stronger returns.
Fresh fixtures

Ukrainian coaster freights are rising almost daily, as escalating military risks and owners’ growing reluctance to call Izmail and Reni sharply tighten available tonnage; securing vessels for POC shipments is now particularly difficult. Rates ex Russian ports are increasing more gradually, while levels from other Black Sea origins remain broadly flat.

Fresh fixtures & coaster assessments

The US Gulf Handysize and Supramax/Ultramax markets have opened the week softer, with late July–early August tonnage supply exceeding fresh cargo demand and weaker Panamax rates adding pressure on transatlantic business. Owners are lowering offers to secure employment, although expected record grain demand in Q4 should provide broader support across vessel sizes.

Fresh fixtures

Black Sea and Mediterranean Handysize/Supramax conditions remain highly uneven amid rising war risks and limited Ukrainian grain activity. Supramax rates are supported by firm EU grain demand and tight EMed tonnage, while Handysize employment remains under pressure and Russian-origin freight continues to firm.

Fresh fixtures & Handysize/Supramax assessments

Baltic and Continent Handysize/Supramax owners are pushing rates higher, supported by firmer cargo demand, rising bunker costs and a limited regional vessel count. Russian-origin business continues to command a premium over European cargoes, with stronger ideas particularly for fertilizer and long-haul trips.
Fresh fixtures & Handysize/Supramax assessments

Asia-Pacific Panamax/Kamsarmax freights are showing signs of recovery, supported by stronger coal demand from Indonesia and Australia and tighter vessel availability across the region. Recent fixtures also point to firmer owner sentiment on NOPAC and Indian Ocean routes, with Kamsarmax and Post-Panamax returns generally outperforming standard Panamax levels.

Fresh fixtures

Mediterranean coaster freights remain under pressure as fresh cargo demand is insufficient to absorb available tonnage. Owners are testing slightly firmer ideas, particularly on longer-haul steel and fertilizer routes, but higher bunker costs are limiting any real improvement in returns.

Fresh fixtures & coaster assessments