- Baltic Panamax Index rises by 26 points w-o-w
- Freights from Australia to India up $1/t w-o-w
Coal freight rates in India experienced an upward trend this week, driven by rising bunker prices and stable market sentiment despite a sluggish start to trading. While the Pacific basin saw limited fresh cargo activity and an extended tonnage list, overall market resilience prevented significant downward pressure on rates. Furthermore, steady freight derivative rates provided additional support, helping to sustain freight levels.
Baltic indices show mixed trends w-o-w: The Baltic Panamax Index (BPI) rose by 26 points to 800 points on 3 February against 774 points on 27 January. Additionally, the Baltic Supramax Index (BSI) was assessed at 603 points on 3 February, dipping by 36 points w-o-w.
Route specifications
- Australia-India rates rise w-o-w: Freights from Australia to India rose by $1/t w-o-w, with BigMint’s assessment indicating that rates for Hay Point Port to Paradip were at $12.4/dry metric tonne (dmt). Sources informed that SAIL booked one Panamax vessel from Australia to Vizag and Haldia at $13.75/t, with shipment scheduled for 24 February-5 March.
- South Africa-India freights climb up: Freights from the Richards Bay Coal Terminal (RBCT) to Paradip stood at $10.5/t, increasing by $0.2/t w-o-w. However, no fresh fixtures were concluded this week as only a limited number of vessels are available in this route.
- Indonesia-India freights increase w-o-w: Freights for coal shipments from East Kalimantan to Paradip stood at $8.9/t, up by $0.6/t w-o-w. Higher demand from Indian power plants and industries resulted in more inquiries for Indonesian coal, supporting freight rates.
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