During week 15, banana selling prices in St. Petersburg ranged from USD 24.60 to 25.80 per box, CIF, depending on the brand, volume, and packaging. Approximately 1.610 million boxes were discharged, and around 1.9 million boxes are expected for week 16. The exchange rate was 85.02 RUB per USD.

In the Mediterranean, prices for Ecuadorean bananas ranged from USD 20.00 to 22.00 per box, CIF, varying based on brand, region, volume, and packaging. In Algeria, prices were higher due to lower volumes of bananas available in the market, ranging from USD 28.00 to 30.00 per box, CIF.

In the Mersin Free Zone, prices for Ecuadorean bananas re-exported to neighbouring countries ranged from USD 22.00 to 25.00 per box. In contrast, Central American bananas were priced between USD 17.00 and USD 20.00 per box. Prices remain high due to the reduced quantities of fruit available in the market. The exchange rate was 37.90 TL per USD, slightly improving the Lira.

In the Iranian domestic market, the price of Ecuadorian bananas was approximately 180,000 IRT per kilogram. In comparison, the cost of Indian bananas increased from the previous week, reaching around 110.000-115.000 IRT per kilogram. The price for a 13.50 kg box of Indian bananas also went up, now ranging between USD 9.00 and USD 9.25 CIF Bandar Abbas. The exchange rate was 1 USD = 99.000-101.500 IRT.

By Friday, prices in the Ecuadorian spot market reached USD 7.50 to 8.00, or even higher, for the fruit alone, depending on its quality and the region from which it was sourced. Intense rainfall in some areas amounted to 140-145 mm. As a result, some farms, particularly in Simon Bolivar, Pueblo Nuevo, Jujan, Tres Postes, Vernaza, Baba, and Vince, reported suspensions due to excessive water and flooding.

Additionally, operations were still hampered by a severe container shortage, affecting also  other banana-exporting countries like Colombia and Costa Rica.

Starting May 1, 2025, freight rates for ships operating in the Mediterranean will be impacted due to the region's official designation as an Emission Control Area (ECA). This designation will significantly lower marine fuel's maximum allowable sulfur content from 0.5% to 0.1%, leading to a sharp increase in fuel costs. The regulation aims to reduce air pollution levels in Mediterranean countries.

This tax is a government-imposed fee on greenhouse gas (GHG) emissions from the combustion of fossil fuels, such as oil, gas, and coal. It is calculated based on the amount of carbon dioxide equivalent emissions released and must be paid by the responsible entity.

To comply with the new regulations, ships must use fuel oil with a sulfur content that does not exceed 0.1% by mass (m/m). Alternatively, they can adopt exhaust gas cleaning systems (scrubbers) or switch to sulfur-free fuels. This regulation falls under MARPOL Annex VI Regulation 14, which addresses ECA requirements for sulfur oxides.

Time Charter rates for large ships was around US cents 95-100 per cbft per month and around US Cents 120-130 per cbft per month for smaller vessels.

Bunker Prices:

                             VLSFO        MGO

Rotterdam             $442.50       $601.00      

Gibraltar                $483.50       $662.00                

Panama Canal      $494.00       $668.00