- Tight pacific tonnage supports panamax sentiment
- Strong Southeast Asia enquiry lifts supramax market
Dry bulk coal freights to India moved higher w-o-w on 19 May, supported by firm Pacific cargo enquiry, tighter vessel supply and rising bunker prices. Market participants highlighted improving sentiment across key coal routes, although fixing activity remained selective as owners awaited firmer market levels.
On the Australia-India Panamax route, tight Pacific tonnage and healthy Australian enquiry kept sentiment firm despite measured fixing activity.
A shipbroker said, “Freight market is at the higher side,” while another added, “Market is bullish,” reflecting firm sentiment across the dry bulk segment.
The Indonesia-India Supramax market remained supported by robust coal enquiry and tighter Southeast Asia vessel supply. “Bunker is going up now, so freight will go up,” a shipbroker said.
Meanwhile, the South Africa-India Panamax route stayed steady amid improved Atlantic enquiry and stable India-bound cargo movement. However, fixing activity remained measured.
“Few deals are close, but owners are still waiting for better market levels before fixing,” another broker noted.
Broader dry bulk sentiment remained largely firm across segments. According to a shipbroker, “Capesize softened slightly, while Panamax, Supramax and Handy markets remained firm.”
Outlook
Freight sentiment is expected to remain firm in the near term amid tight Pacific vessel supply, healthy coal enquiry and elevated bunker prices, although cautious fixing activity may keep market movement selective across key India-bound routes.
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