Weak demand and availability of excess shipping vessels have kept bulk shipping freight rates stable.
Low demand for commodities has persisted due to slowdown in the major global economies dealing in commodities.
Current freight rates (panamax)
1. Australia to India: USD 6.15/MT
2. US to India: USD 14.25/MT
On the other hand, freight rates have also have remained immune to any interference from crude oil price movement. Crude oil prices have continued to remain low, insulating freight rates from upswings. On 30 Dec’15, crude oil prices were reported at USD 31.45/barrel.
Month-wise 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 |
| Dec’15 | 31.45 | 6.15 |
Panamax vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Research
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