Bulk shipping freight rates have remained stable at the rates assessed the week last. But, there is a likelihood of the freight going up in the coming days as shipments of coal and iron ore are expected to increase.
Coal shipments are likely to rise mainly in the Asian regions—China, South Korea, Vietnam and Taiwan.
In the meantime, disruptions due to bad weather at the Indonesian ports have caused delays in cargo outgo from the East and South Kalimantan ports.
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 |
Freights in USD/MT
Source: CoalMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 8.5 |
Freights in USD/MT
Source: CoalMint Research
Shrinkage in Petcoke imports into India has lowered demand for cargo ships along the USA-India route.
The Baltic Dry Index was reported at 702 points as on 10 Feb’17. The index dipped slightly due to a temporary shrinkage in demand for vessels. The index is an indicator of the global movement in vessel freight rates in respect to all classes of vessels, carrying all kinds of commodities, including coal and iron ore.
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