Persistence of oversupply of vessels has restricted any improvement in bulk shipping freight rates, which have remained stable.
Demand has not undergone any improvement as economic slowdown in China has retarded global trade in commodities. China is the largest importer as well as exporter of many commodities, including coal and iron ore.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 11.5 | 8 | 5.5 |
| South Africa to India | 9 | 7 | 4.5 |
| Indonesia to India | 6.5 | 5 | 4 |
Freights in USD/MT
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 7 |
Freights in USD/MT
Rising crude oil prices have also failed to bring in any improvement in shipping freight rates. Despite crude oil prices going up, there has been no demand for oil rigs that kept shipping freight rates uninfluenced. On 7 Apr’16, crude oil price was reported at USD 34.71/barrel.
The Baltic Dry Index was recorded at 539 points as on 8 Apr’16. The index is an indicator of global freight rate movement in respect to all types of cargoes carrying commodities, including coal and iron ore.
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