Bulk shipping freight rates have remained steady despite active shipping of coal and iron ore along the key Asian routes.
Demand for cargo vessels has remained intact as intense imports of coal and iron ore flowed into China. Moreover, substantial coal imports into India also compounded to the demand for vessels.
With the ensuing winter season, demand for cargo ships will gradually be on the rise as stocking of coal will being in most of the Asian countries to meet the peak demand for power in the season.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax |
| Australia to India | 14.5 | 11 |
| South Africa to India | 12 | 9 |
| Indonesia to India | 8 | 6 |
Freights in USD/MT
Source: SteelMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 10 |
Freights in USD/MT
Source: SteelMint Research
The Baltic Dry Index has climbed to 804 points, as on Friday, due to the arousal of optimistic sentiments in the cargo shipping industry on the prospect of demand for vessels to rise in the coming weeks. The index is an indicator of global freight rate movement in respect to all classes of vessels, transporting all kinds of commodities, including coal and iron ore.
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