Prevalence of muted demand has restricted any significant movement in the bulk shipping freight rates, which remained almost unmoved at the rates the week last.
Cargo vessels becoming excessive over demand has put pressure on the freight rates. Moreover, the demand for cargo vessels is speculated to go further down in the coming days as the lull season for vessels is about to begin.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 12 | 11 | 9 |
| South Africa to India | 10 | 9 | 6 |
| Indonesia to India | 7 | 7 | 5 |
Freights in USD/MT
Source: SteelMint Research
| Route | Supramax |
| India to China | 8 |
Freights in USD/MT
Source: SteelMint Research
The Baltic Dry Index has undergone a slight improvement mainly due to demand remaining intact along some routes. On Friday, the index was recorded at 855 points, after falling to 834 points on Tuesday. The index is an indicator of movements in global cargo shipping freight rates pertaining to vessels, transporting all kinds of commodities, including coal and iron ore.
Leave a Reply