Shipping vessel freight rates remained unchanged along the key Asian routes despite movement of shipments of coking coal along the Australia-China and the Australia- India routes.
Recently, coking coal shipments from Australia to China were subjected to somewhat lower demand arising out of weakening of the Yuan currency due to uncertainties arising out of Britain’s exit from the European Union.
| Route | Supramax | Panamax |
| Australia to India | 11.5 | 8.5 |
| South Africa to India | 8.5 | 8 |
| Indonesia to India | 6 | 6 |
Freights in USD/MT
Source: SteelMint Research
| Route | Supramax |
| India to China | 8.5 |
Freights in USD/MT
Source: SteelMint Research
However, slight increase in demand for cargo vessels has resulted in the Baltic Dry Index moving up to 660 points on 30 Jun’16. The index is an indicator of global freight rate movements in respect to all classes of vessels, transporting all kinds of commodities, including coal and iron ore.
Meanwhile, the impact of Britain’s exit from the European Union on the shipping industry is yet to be assessed.
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