- Australian Panamax freights hold ground on forward cargo interest
- Indonesian Supramax rates buck subdued market trend amid tight tonnage
India-bound coal freight markets showed a mixed trend in the week ended 1 September 2026. Indonesia-linked Supramax routes remained relatively stronger on limited prompt tonnage and firm owner offers, while Panamax activity was more selective, with Australian cargoes providing support and South Africa-India remaining subdued.
The broader Panamax market lacked strong fixing momentum, although late-September India requirements for Australian cargoes continued to underpin rates. Higher bunker costs also encouraged owners to maintain firm rate ideas despite limited fresh business.
A shipbroker said, “Still, the market is weak and is not showing much support as of now.”
Route-wise update
South Africa-India remained the softer Panamax segment, with limited fixing and cautious buying weighing on activity. In contrast, Australian Panamax continued to benefit from forward enquiry, while Indonesia-linked Supramax found support from tighter prompt tonnage.
Another shipbroker mentioned, “September enquiries are present, but the market still lacks the fixing activity needed for stronger momentum.”
Overall, the market remained uneven across vessel segments, with Australian Panamax supported by forward requirements and Indonesia-linked Supramax benefiting from prompt tonnage tightness, while South Africa lacked sufficient cargo activity.
Outlook
India-bound coal freights are likely to remain mixed in the coming weeks. Australian Panamax could retain support if late-September enquiries convert into fixtures, while South Africa may remain subdued without fresh cargo activity. Indonesia-linked Supramax rates may stay comparatively firm as prompt tonnage remains limited, although muted fixing could restrict further gains.
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