Bulk shipping freight rates have remained steady at the rates assessed the week last.
The freight rates are expected to remain stable in the coming week as demand for cargo vessels have not revived to significant levels, after the Australian ports resuming operations following the cyclone incident.
According to the inputs received, the moderate demand for cargo vessels resulted due to lesser shipments of iron ore from Australia. Coal shipments, however, were significant.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 17 | 14 | 10 |
| South Africa to India | 14 | 13.5 | 9 |
| Indonesia to India | 9 | 9 | 6 |
| Australia to China | 13 | 13.5 | 9 |
| South Africa to China | 17 | 11 |
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 11 |
Freights in USD/MT
Source: CoalMint Research
The Baltic Dry Index has exhibited a falling trend. On 6May’17, the index was reported lower at 994 points. The fall in the index was the outcome of the bearish sentiments arising from the moderate demand for cargo vessels. On 2May’17, the index was reported higher at 1,073 points. The index is an indicator of the global movement in freight rates in respect to all classes of vessels, transporting all kinds of commodities, including coal and iron ore.
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