Bulk shipping freight rates are subjected to upward movements due to the active cargo shipping along the key Asian routes.
The freight rates are expected to move up further in the coming days as cargo shipping activity will resume in Australia after the severe storm.
Prospect of active chartering activity in the coming days by miners in the Australian region is indicative of demand for cargo vessels to go up in the coming days.
Coking Coal imports to India are also expected to increase as demand from the country’s steel makers is strong.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 17.5 | 13 | 11 |
| South Africa to India | 14.5 | 12 | 10 |
| Indonesia to India | 12 | 8.5 | 6 |
Freights in USD/MT
Source: CoalMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 12 |
Freights in USD/MT
Source: CoalMint Research
The Baltic Dry Index has undergone a dip due to the temporary stoppage in shipping activity in Australia due to the Debbie storm. The index descended to 1,297 points as on 30Mar’17 from 1,333 points as on 28Mar’17. The index is an indicator of global movement in cargo shipping freight rates in respect to all kinds of vessels, transporting all kind of commodities, including coal and iron ore.
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