Freight rates of capesize vessels could rise next week on expected higher shipments of iron ore cargoes, according to a section of ship brokers.
It is expected that Australian iron ore miners BHP Billiton and Fortescue Metals Group could step up iron ore shipments as iron ore prices are going up.
Freight rates of panamax vessels have risen marginally due to increased shipments of commodities.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax |
| Australia to India | 12.5 | 10.5 |
| South Africa to India | 10.5 | 8.5 |
| Indonesia to India | 7 | 6 |
Freights in USD/MT
Source: SteelMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 7 |
Freights in USD/MT
Source: SteelMint Research
The Baltic Dry Index has increased to 738 points as shipments of coal have increased to China. The index is an indicator of global freight rate movements in respect to all classes of vessels transporting all kinds of commodities, including coal.
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