Capesize Vessel Freight Rates Likely to Go Up Marginally on Prospect of Higher Shipments

Expectation of freight rates of capesize vessels rising in the next week is doing the rounds among ship brokers.

Indications of higher shipment and possible port disruption in China due to bad weather have raised the hope of capesize vessel freight rates going up marginally along the key Asian routes in the coming week.

Increasing demand for coal and Petcoke in India have also inflicted optimism among ship owners of seeing some improvement in freight rates along the key Asian routes.

Current freight rates (coal cargoes)

Freights in USD/MT
Source: SteelMint Research

Current freight rates (iron ore cargoes)

Freights in USD/MT
Source: SteelMint Research