Bulk shipping freight rates have remained almost stable this week due to persistence of weak demand.
All classes of vessel rates are assessed within the range of USD 5-11/MT.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.
Moreover, fall in crude oil prices have also contributed towards inactive bulk freight rates. On 19 Nov’15, crude oil prices were reported lower at USD 38.52/barrel. Crude oil prices are a decisive parameter in shipping freight rate movements.
Viewing at prevailing demand scenario, there is no prospect of any increment in freight rates in the next week.
Current freight rates
Freight rates from South Africa to India have hovered within USD 7-10.50/MT.
1. Supramax: USD 9.50-10.50/MT
2.Panamax: USD 8-9/MT
3.Capesize: USD 7-8/MT
Freight rates from Indonesia to India have remained within USD 5-7.50/MT.
1. Supramax: USD 6.50-7.50/MT
2.Panamax: USD 5.50-6.50/MT
3.Capesize: USD 5-6/MT
Freight rates from Australia to India are assessed in the range of USD 8-11/MT.
1.Supramax: USD 10-11/MT
2.Panamax: USD8-9/MT
3.Capesize: USD 8-9/MT
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 | 38.52 | 9 |
Panamax Vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Coalspot
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