Bulk shipping freight rates have remained at the week-ago rates as there was no increase in demand.
Demand for cargo vessels has remained moderate as imports of iron ore in China were waning. Iron ore shipments to China have declined as there were plenty of stocks available with the steel makers there, and production of steel decreasing.
Coal shipments to China were, however, constant, keeping the demand for cargo vessels at moderate levels.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 15 | 14 | 10 |
| South Africa to India | 12 | 13.5 | 9 |
| Indonesia to India | 8 | 9 | 6 |
| Australia to China | 12 | 13.5 | 9 |
| Indonesia to China | 9 | 5 | |
| Australia to China | 11 | 5 | |
| Russia to India | 15 | ||
| Colombia to India | 19 | ||
| USA to India | 29 |
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 10 |
Freights in USD/MT
Source: CoalMint Research
The Baltic Dry Index has shown a downward trend as there was no strengthening of demand for cargo ships. The index was reported lower at 956 points as on 19May’17 from 1,014 points as on 12May’17. The index is an indicator of the global movement in cargo shipping freight rates, across all classes of vessels, carrying all kinds of commodities, including coal and iron ore.
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