Grains & Dry Bulk · Indicative Freight Rate
Russian Black Sea to Europe Grain Freight Rates
The latest indicative rate is$42.00/mt for 5 September 2026, Panamax. Weekly history is below.
Latest freight rate
What This Rate Measures
Indicative weekly voyage freight rate for grain from Russia to Europe, Panamax vessels, in USD/mt.
Dry-bulk grain voyage rates: Indicative weekly voyage freight rates for grain cargoes from a named loading area to a named discharge area, for a stated lot size (e.g. 30,000 mt or 40/50,000 mt). Each origin, destination and lot size is a separate route page.
- Russian grain loads mainly from deep-water Black Sea ports (Novorossiysk, Taman, Tuapse); coaster lots load from shallow-water Azov ports.
- European importers receive grain through Atlantic and Mediterranean ports; ARA barges distribute inland.
- The source states the vessel class (Panamax) rather than a tonnage for this route; the tonnage actually carried is not published.
Known terms (as published)
- Origin: Russia
- Destination: Europe
- Cargo: Grain
- Vessel class: Panamax (tonnage not published)
- Rate unit: USD/mt; weekly reading
Not published by the source
- Laycan
- Vessel identity
- Load/discharge terms
- Named berths
These terms are left blank rather than inferred.
Unit and cadence
- USD per metric tonne of cargo.
- Weekly reading — the change shown compares two weekly readings.
Weekly Grain Freight Rates
Last 30 loaded weekly observations. A different origin or lot size is a different page.
| Date | Rate | Weekly change (published) | Trend |
|---|---|---|---|
| 5 Sep 2026 | $42.00 | — | — |
| 29 Aug 2026 | $37.00 | — | — |
| 22 Aug 2026 | $37.00 | — | — |
| 15 Aug 2026 | $35.00 | — | — |
| 8 Aug 2026 | $35.00 | — | — |
| 1 Aug 2026 | $28.00 | — | — |
| 25 Jul 2026 | $28.00 | — | — |
| 18 Jul 2026 | $28.00 | — | — |
| 11 Jul 2026 | $28.00 | — | — |
| 4 Jul 2026 | $28.00 | — | — |
| 27 Jun 2026 | $28.00 | — | — |
| 20 Jun 2026 | $28.00 | — | — |
| 13 Jun 2026 | $28.00 | — | — |
| 6 Jun 2026 | $28.00 | — | — |
| 30 May 2026 | $28.00 | — | — |
| 22 May 2026 | $28.00 | — | — |
| 16 May 2026 | $28.00 | — | — |
| 9 May 2026 | $28.00 | — | — |
| 2 May 2026 | $28.00 | — | — |
| 25 Apr 2026 | $28.00 | — | — |
| 18 Apr 2026 | $28.00 | — | — |
| 11 Apr 2026 | $28.00 | — | — |
| 4 Apr 2026 | $28.00 | — | — |
| 28 Mar 2026 | $28.00 | — | — |
| 21 Mar 2026 | $28.00 | — | — |
| 14 Mar 2026 | $28.00 | — | — |
| 7 Mar 2026 | $28.00 | — | — |
| 28 Feb 2026 | $28.00 | — | — |
| 21 Feb 2026 | $28.00 | — | — |
| 14 Feb 2026 | $27.00 | — | — |
Computed Summary
Calculated by CommodityScope from the loaded weekly readings only. Each statement names its period and method.
The latest rate of $42.00/mt on 5 Sep 2026 is up $5.00 (+13.5%) from the previous weekly assessment (29 Aug 2026).
Method: Computed by CommodityScope as the difference between the two most recent loaded weekly observations (7 calendar days apart).
It is 22.1% above the August 2026 average of $34.40/mt, the most recent completed month with 5 weekly observations.
Method: Arithmetic mean of the published weekly midpoints in August 2026. Partial months are excluded from this comparison.
Over the loaded history (31 Jan 2026 – 5 Sep 2026), the highest rate was $42.00/mt on 5 Sep 2026 and the lowest was $27.00/mt on 14 Feb 2026.
Method: Minimum and maximum of the published rate over the loaded history (31 Jan 2026 – 5 Sep 2026, 32 observations). This is not an all-time record.
Monthly Russia–Europe, Panamax Averages
Average, minimum and maximum of published weekly rates in each calendar month. Incomplete latest months are marked month to date.
| Month | Average | Min | Max | Observations |
|---|---|---|---|---|
| September 2026Month to date | 42.00 | 42.00 | 42.00 | 1 |
| August 2026 | 34.40 | 28.00 | 37.00 | 5 |
| July 2026 | 28.00 | 28.00 | 28.00 | 4 |
| June 2026 | 28.00 | 28.00 | 28.00 | 4 |
| May 2026 | 28.00 | 28.00 | 28.00 | 5 |
| April 2026 | 28.00 | 28.00 | 28.00 | 4 |
| March 2026 | 28.00 | 28.00 | 28.00 | 4 |
| February 2026 | 27.75 | 27.00 | 28.00 | 4 |
| January 2026 | 28.00 | 28.00 | 28.00 | 1 |
Comparable Routes, Explained
- Argentina to Europe Grain Freight Rates
Same destination from Argentina with the same vessel class; the gap reflects voyage distance and origin-side conditions.
$41.00 USD/mt · 5 Sep 2026 · difference (this − other) +1.00
- Australia to Europe Grain Freight Rates
Same destination from Australia with the same vessel class; the gap reflects voyage distance and origin-side conditions.
$58.00 USD/mt · 5 Sep 2026 · difference (this − other) -16.00
- Brazil to Europe Grain Freight Rates
Same destination from Brazil with the same vessel class; the gap reflects voyage distance and origin-side conditions.
$37.00 USD/mt · 5 Sep 2026 · difference (this − other) +5.00
- Ukrainian Black Sea to Europe Grain Freight Rates
Same destination from Ukraine with the same vessel class; the gap reflects voyage distance and origin-side conditions.
$27.00 USD/mt · 5 Sep 2026 · difference (this − other) +15.00
Related Grain Freight Rates
- Argentina to Europe Grain Freight RatesPanamax · $41.00 USD/mt
- Australia to Europe Grain Freight RatesPanamax · $58.00 USD/mt
- Brazil to Europe Grain Freight RatesPanamax · $37.00 USD/mt
- Ukrainian Black Sea to Europe Grain Freight RatesPanamax · $27.00 USD/mt
- US Gulf to Europe Grain Freight RatesPanamax · $26.00 USD/mt
- US Lakes to Europe Grain Freight Rates30kt · $57.00 USD/mt
- US Lakes, Duluth to Europe Grain Freight Rates30kt · $58.00 USD/mt
- Russian Black Sea to Bangladesh Grain Freight RatesPanamax · $80.00 USD/mt
What This Rate Represents
This is an indicative voyage rate from loaded grain-market editions, not a live fixture screen. Origin, destination, commodity and parcel size on this page are those published for this stem only. Russia and Ukraine, and 40–50kt versus 30kt lots, stay on separate URLs. Laycan, named berths and vessel identity are not inferred when the source does not publish them.
How to use
- Add the rate to the FOB grain price of the origin to approximate a delivered cost for that lot size.
- Compare routes to the same destination to see how origin distance and vessel size affect cost.
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.
Sources for the explanations on this page
- Loaded weekly grain & feed editions — route table as printed
- ICC Incoterms® 2020 rules (FOB, CFR, CIF, FCA definitions) — Meaning of the delivery terms used in the basis column.
Numbers: loaded editions. Computed statistics: CommodityScope, from the loaded history (methodology).