Grains & Dry Bulk · CommodityScope Indicative Freight Assessment
Russian Black Sea to East Spain Grain Freight Rates — Panamax
- CommodityScope Indicative Assessment
- CS Series CS-FRT-GRN-RUSSIAN-BLACK-SEA-EAST-SPAIN-PANAMAX
- Dry Freight Methodology v1.0
- View full Series Specification
CommodityScope assesses the indicative spot freight market for this basis at $44.00/mt for 17 October 2026, Panamax, unchanged from the previous weekly reading. The assessment represents the estimated prevailing market level for the defined basis and is not a vessel-specific quotation or fixture.
Latest freight rate
What This Rate Measures
CommodityScope indicative weekly voyage freight assessment for grain from Russian Black Sea to East Spain, Panamax vessels, in USD/mt.
Dry-bulk grain voyage rates: Dry-bulk grain voyage rates are CommodityScope weekly indicative freight assessments for a defined origin, destination and freight basis. Depending on the series, the basis may specify a parcel size, a vessel class, or both. Each distinct origin, destination and parcel/vessel basis is maintained as a separate series.
- The assessment basis states the vessel class (Panamax) rather than a tonnage for this route; the tonnage actually carried is not specified.
Assessment basis
- Origin: Russian Black Sea
- Destination: East Spain
- Cargo: Grain
- Vessel class: Panamax (tonnage not specified)
- Rate unit: USD/mt; weekly reading
- CS Series:
- CS-FRT-GRN-RUSSIAN-BLACK-SEA-EAST-SPAIN-PANAMAX
- Assessment type:
- CommodityScope Indicative Assessment
- Methodology:
- Dry Freight Methodology v1.0
- Series Specification:
- CS-FRT-GRN-RUSSIAN-BLACK-SEA-EAST-SPAIN-PANAMAX
Terms not specified
- Laycan
- Vessel identity
- Load/discharge terms
- Named berths
Commercial terms not included in the assessment basis are not inferred.
Unit and cadence
- USD per metric tonne of cargo.
- Weekly reading — the change shown compares two weekly readings.
Weekly Grain Freight Rates
Latest CommodityScope weekly assessments for the defined market basis. Dates without an available assessment are omitted. A different origin is a different page.
| Date | Rate | Weekly change |
|---|---|---|
| 17 Oct 2026 | $44.00 | 0.00 |
| 10 Oct 2026 | $44.00 | 0.00 |
| 3 Oct 2026 | $44.00 | 0.00 |
| 26 Sep 2026 | $44.00 | 0.00 |
| 19 Sep 2026 | $44.00 | 0.00 |
| 12 Sep 2026 | $44.00 | +8.00 |
| 5 Sep 2026 | $36.00 | +5.00 |
| 29 Aug 2026 | $31.00 | 0.00 |
| 22 Aug 2026 | $31.00 | +2.00 |
| 15 Aug 2026 | $29.00 | 0.00 |
| 8 Aug 2026 | $29.00 | +5.00 |
| 1 Aug 2026 | $24.00 | 0.00 |
| 25 Jul 2026 | $24.00 | 0.00 |
| 18 Jul 2026 | $24.00 | 0.00 |
| 11 Jul 2026 | $24.00 | 0.00 |
| 4 Jul 2026 | $24.00 | 0.00 |
| 27 Jun 2026 | $24.00 | 0.00 |
| 20 Jun 2026 | $24.00 | 0.00 |
| 13 Jun 2026 | $24.00 | 0.00 |
| 6 Jun 2026 | $24.00 | 0.00 |
| 30 May 2026 | $24.00 | +2.00 |
| 22 May 2026 | $22.00 | 0.00 |
| 16 May 2026 | $22.00 | 0.00 |
| 9 May 2026 | $22.00 | -1.00 |
| 2 May 2026 | $23.00 | 0.00 |
| 25 Apr 2026 | $23.00 | 0.00 |
| 18 Apr 2026 | $23.00 | 0.00 |
| 11 Apr 2026 | $23.00 | 0.00 |
| 4 Apr 2026 | $23.00 | 0.00 |
| 28 Mar 2026 | $23.00 | 0.00 |
Computed Summary
Calculated from the CommodityScope assessment series shown above. Each statistic states its applicable period and calculation method.
The latest rate of $44.00/mt on 17 Oct 2026 is unchanged from the previous weekly assessment (10 Oct 2026).
Method: Computed by CommodityScope as the difference between the two most recent weekly observations (7 calendar days apart).
It is 4.8% above the September 2026 average of $42.00/mt, the most recent completed month with 4 weekly observations.
Method: Arithmetic mean of the available weekly rates in September 2026. Partial months are excluded from this comparison.
Over the available history (31 Jan 2026 – 17 Oct 2026), the highest rate was $44.00/mt on 12 Sep 2026 and the lowest was $22.00/mt on 9 May 2026.
Method: Minimum and maximum of the rate over the available history (31 Jan 2026 – 17 Oct 2026, 38 observations). This is not an all-time record.
Monthly Russian Black Sea to East Spain — Panamax Averages
Average, minimum and maximum of the available weekly rates in each calendar month. Incomplete latest months are marked month to date.
| Month | Average | Min | Max | Observations |
|---|---|---|---|---|
| October 2026Month to date | 44.00 | 44.00 | 44.00 | 3 |
| September 2026 | 42.00 | 36.00 | 44.00 | 4 |
| August 2026 | 28.80 | 24.00 | 31.00 | 5 |
| July 2026 | 24.00 | 24.00 | 24.00 | 4 |
| June 2026 | 24.00 | 24.00 | 24.00 | 4 |
| May 2026 | 22.60 | 22.00 | 24.00 | 5 |
| April 2026 | 23.00 | 23.00 | 23.00 | 4 |
| March 2026 | 23.00 | 23.00 | 23.00 | 4 |
| February 2026 | 23.00 | 23.00 | 23.00 | 4 |
| January 2026 | 23.00 | 23.00 | 23.00 | 1 |
Comparable Routes, Explained
- Ukrainian Black Sea to East Spain Grain Freight Rates — Panamax
Same destination from Ukrainian Black Sea with the same vessel class. The difference reflects the different route basis and prevailing market conditions.
$23.00 USD/mt · 17 Oct 2026 · difference (this − other) +21.00
- Russian Black Sea to Bangladesh Grain Freight Rates — Panamax
Same origin to Bangladesh. The difference reflects the different route basis and prevailing market conditions.
$95.00 USD/mt · 17 Oct 2026 · difference (this − other) -51.00
- Russian Black Sea to China Grain Freight Rates — Panamax
Same origin to China. The difference reflects the different route basis and prevailing market conditions.
$95.00 USD/mt · 17 Oct 2026 · difference (this − other) -51.00
- Russian Black Sea to Egypt Grain Freight Rates — 5kt, 30kt, 40–50kt
Same origin to Egypt. The series has a different route and parcel-size basis; prevailing market conditions may also differ.
$90.00 USD/mt · 17 Oct 2026 · not directly comparable — no difference shown
Related Grain Freight Rates
- Ukrainian Black Sea to East Spain Grain Freight Rates — PanamaxPanamax · $23.00 USD/mt
- Russian Black Sea to Bangladesh Grain Freight Rates — PanamaxPanamax · $95.00 USD/mt
- Russian Black Sea to China Grain Freight Rates — PanamaxPanamax · $95.00 USD/mt
- Russian Black Sea to Europe Grain Freight Rates — PanamaxPanamax · $46.00 USD/mt
- Russian Black Sea to Indonesia Grain Freight Rates — PanamaxPanamax · $95.00 USD/mt
- Russian Black Sea to Iran Grain Freight Rates — PanamaxPanamax · $64.00 USD/mt
- Russian Black Sea to Jordan Grain Freight Rates — PanamaxPanamax · $82.00 USD/mt
- Russian Black Sea to Saudi Grain Freight Rates — PanamaxPanamax · $82.00 USD/mt
What This Assessment Represents
This is a CommodityScope indicative voyage freight assessment for the origin, destination, commodity and parcel-size or vessel-class basis defined above. It is not a live fixture. Russia and Ukraine are separate origins on separate pages; where a lane publishes several lot sizes, each lot size is a separate series on the same page. Laycan, named berths and vessel identity are not inferred when the series basis does not specify them.
How to use
- Combine the freight rate with a comparable FOB origin price to estimate a CFR-equivalent sea-delivered value, provided the cargo and freight bases are compatible.
- Compare freight levels across different origin and vessel/parcel bases; differences may reflect route, vessel availability, port conditions, timing and market balance.
Not suitable for
- Fixing a vessel: no laycan, vessel name, terms (e.g. load/discharge rates) or demurrage are implied.
- Mixing lot sizes: a 30,000 mt coaster/handysize stem is not the same market as a 40/50,000 mt panamax stem.
Assessment and computed statistics: CommodityScope. See the Dry Freight Methodology v1.0 for assessment basis, calculation principles and data policy.