Bulk shipping freight rates have remained stable in comparison with that prevailed last week in the absence of stronger demand.
Shipbrokers were expecting the freight rates to fall in the near term as the demand for cargo ships were expected to go down.
The increasing shipments of coal to India and China have, however, failed to bring about any further rise in shipping freight rates.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax |
| Australia to India | 13 | 11 |
| South Africa to India | 11 | 9 |
| Indonesia to India | 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
The Baltic Dry Index had fallen to 636 points as on 4Aug’16 due to demand for cargo ships going lower. The index is a measure of global freight rate movement in respect to all types of vessels transporting all kinds of commodities, including coal and iron ore.
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