The cargo shipping industry has remained dull as demand for cargo ships weakened due to the festive season.
International trading has come to a virtual standstill due to the Christmas festival. Market participants saw no prospect of revival of the cargo shipping industry in the near term.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 13.5 | 11.5 | 10 |
| South Africa to India | 11.5 | 11.5 | 8 |
| Indonesia to India | 7 | 8 | 6 |
Freights in USD/MT
Source: SteelMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 8.5 |
Freights in USD/MT
Source: SteelMint Research
Subdued demand for cargo ships has restricted any significant upswing in the Baltic Dry Index, which was reported at 961 points as on 23 Dec’16. The index is a measure of the global movement in cargo shipping freight rates in respect to all types of vessels, transporting all kinds of commodities, including coal and iron ore.
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