Bulk shipping freight rates have remained stable at the rates assessed the week last. Over-supply of vessels over demand has restricted in any movement in the freight rates.
In a recent development, increasing Coking Coal production in China has lowered shipment of the coal along the Australia-China route. Also, falling prices of the coal in Australia have prompted Indian importers to lower their shipments in the prospect the prices going down to significant levels.
The freight rates thus were under pressure.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 13 | 10 | 8.5 |
| South Africa to India | 11 | 10 | 8 |
| Indonesia to India | 7 | 7 | 5 |
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 8.5 |
Freights in USD/MT
Source: CoalMint Research
In the meantime, bad weather has resulted in congestion at the Indonesian ports. According to the inputs received, around 130 vessels were stuck at the Kalimantan port due to bad weather.
Leave a Reply