- Panamax rates ease as Australia-India fixtures remain limited
- Supramax routes decline despite expectations of stronger coal trade
India-bound coal freight markets remained under pressure in the week ended 13 October 2026, with rates declining across Australian, South African and Indonesian routes amid limited fresh cargo enquiries and subdued spot fixing. Market activity remained muted despite expectations of a seasonal pickup in Asian coal demand ahead of winter.
Route-wise update
Market sentiment varied across vessel segments and loading regions. Australian Panamax routes showed relative resilience on expectations of seasonal coal demand, while South Africa-India rates remained broadly stable amid limited spot activity. Indonesian Supramax routes faced greater pressure from sluggish near-term trading, although anticipated fourth-quarter restocking could support demand in the coming weeks. The extent of any recovery will depend on fresh cargo enquiries and the availability of suitable vessels across key loading regions.
Outlook
India-bound coal freight is likely to remain soft to stable in the near term unless fresh cargo enquiries improve. Australian-origin Panamax rates may find support from winter restocking, while South African rates will depend on renewed spot fixing. Indonesian Supramax rates could gain support if coal exports accelerate, although vessel availability and the pace of Indian import demand will remain decisive factors.
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