Bulk shipping freight rates continued to exhibit a stable trend, being undisturbed by any change in demand.
Demand for commodities remained soft in the major global markets, leading not only to stability in shipping freight rates but also to low rates.
Current freight rates (panamax)
1. Australia to India: USD 5.9/MT
2. USA to India: USD 13.25/MT
Crude oil prices continued to fall in global markets. Crude oil prices are a decisive parameter in influencing shipping freight rates. Decline in oil prices has also played an important role in keeping shipping freight rates stable and on the low side.
On 14 Jan’16, Crude oil prices were reported significantly low at USD 25/barrel.
Crude oil price vs freight rates
| 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 |
| Jan’15 | 25 | 5.9 |
Panamax vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Research
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