Shipowners begin showing interest in Greater Odesa ports, but no freight deals concluded

A significant gap between shipowners’ and charterers’ freight rate expectations continues to prevent new deals in Ukraine’s grain shipping market. During the reporting week, shipowners began offering vessels for loading at the deepwater ports of Greater Odesa, but negotiations ultimately ended without agreements. Market participants remain focused on assessing logistics risks and the prospects for restoring stable shipping operations.

According to ASAP Agri, the indicative freight rate for shipping wheat from Greater Odesa ports to Egypt on a Handysize vessel was quoted at $105/t, with an additional ballast bonus of $500 thsd. Including this payment, the total transportation cost was estimated at approximately $130/t. By comparison, on July 10, 2026, before logistics disruptions began affecting Greater Odesa ports, the corresponding freight rate stood at just $23/t. However, the latest offers did not result in any concluded fixtures.

Conditions in the Danube shipping market also remain challenging. Following adverse weather conditions at the entrance to the Sulina Canal, a queue of more than 100 vessels has formed again. Delays in canal transit have widened the gap between charterers’ bids and shipowners’ offers, prompting most market participants to refrain from fixing vessels. Uncertainty surrounding negotiations between Ukraine, the US and Russia has also contributed to the wait-and-see approach, as their outcome could influence Black Sea shipping conditions.

In the Danube barge segment, water levels have risen slightly, but transportation conditions have yet to improve significantly. No official announcements have been made regarding an increase in permitted vessel draft, making it premature to expect additional barge capacity to become available. As a result, the maritime freight market remains largely on hold, with disagreements over freight rates continuing to limit grain shipping activity.

Tags: freight rates