Bulk shipping freight rates are expected gain modestly in the coming days as demand for cargo ships has strengthened with the onset of the New Year.
Rising demand for iron ore in China, and strong demand for Coking Coal in India are attributed for the gradually strengthening demand for cargo vessels.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 13.5 | 11.5 | 10 |
| South Africa to India | 12 | 12.5 | 8 |
| Indonesia to India | 7 | 8 | 6 |
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 10 |
Freights in USD/MT
Source: SteelMint Research
The Baltic Dry Index was reported at 963 points as on 6 Jan’17. The index is a measure of the global movement in cargo shipping freight rates in respect to all classes of vessels, carrying all kinds of commodities, including coal and iron ore.
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