Bulk shipping freight rates have remained stable this week.
Stability in freight rates has resulted in no improvement in demand. Shipping freight rates are assessed this week in the range of USD 6-11/MT for all classes of vessel.
Availability of excess vessels and intense competition among shipping companies have prevented upswing in freight rates. Moreover, slowdown in major global economies has been contributing decisively towards lackluster freight market.
Crude oil prices have continued to remain low, ruling out any influence on shipping freight rates. On 5 Nov’15, crude oil prices were reported at USD 44.28/barrel.
Viewing at prevailing demand scenario, there is no prospect of any increment in freight rates in the next week.
Monthly crude oil prices with vessel freight
| Month | Crude Oil Prices | Vessel Freight, Australia to India |
| Jul’14 | 105.61 | 13.9 |
| Aug’14 | 100.75 | 14.2 |
| Sept’14 | 95.98 | 15.3 |
| Oct’14 | 85.06 | 15.1 |
| Nov’14 | 75.57 | 17 |
| Dec’14 | 59.46 | 11.5 |
| Jan’15 | 44.38 | 9.3 |
| Feb’15 | 54.06 | 10.3 |
| Mar’15 | 52.46 | 10.2 |
| Apr’15 | 57.3 | 9.9 |
| May’15 | 62.16 | 10.2 |
| Jun’15 | 60.21 | 10.7 |
| Jul’15 | 54.19 | 10.5 |
| Aug’15 | 45.46 | 9.5 |
| Sept’15 | 44.48 | 8.9 |
| Oct’14 | 48.1 | 9.5 |
| Nov’15 | 43.28 | 9 |
Panamax Vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Coalspot
Leave a Reply