Bulk shipping freight rates have continued to exhibit a stable trend this week.
The stability has been a result of absence in active demand in the commodity trading market. During the week, freight rates of all classes of vessel are assessed within the range of USD 6-11.50/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.
Crude oil prices continued to remain low, ruling out any influence on shipping freight rates. On 26 Nov’15, crude oil prices were reported at USD 39.65/barrel.
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 are assessed at USD 7-10.50/MT.
1.Supramax: USD 9.50-10.50/MT
2.Panamax: USD 7.50-8.50/MT
3.Capesize: USD 7-8/MT
Freight rates from Indonesia to India have hovered within USD 5-7/MT.
1.Supramax: USD 6-7/MT
2.Panamax:USD 6-7/MT
3.Capesize:USD 5-6/MT
Freight rates from Australia to India are assessed at USD 8-10.50/MT.
1.Supramax: USD 10.50-11.50/MT
2.Panamax: USD 8-9/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 | 39.65 | 9 |
Panamax vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Coalspot
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