The Asian factor: Will Black Sea freight rates climb?

China. Black Sea to South China rates declined to USD 34–36/mt from USD 52–54/mt y/y. CPT Odesa freight remains in the low USD 30/mt range. Emerging Asian Appetite China was largely absent in 2024/25 but booked more than 5 Panamax of Ukrainian barley (about 300 K mt) in 2025/26. Ukrainian pea exports gained market access in May, but shipments are too small by now and unlikely to grow sharply to move freight. Bulker Supply & Downside Meanwhile, Black Sea bulker availability rises as fertilizer, scrap and coal flows fall on the back of “green” energy. Low insurance premiums are capping rate swings in a tight USD 30–40/mt band. Full version of the article is available to subscribers of ‘BLACK SEA & DANUBE GRAIN’ Weekly Report by ...