Bulk shipping freight rates have come under the pressure of excess vessels against demand.
Cargo vessels have become surplus in comparison with demand. Despite shipments of Coking Coal from Australia to China and India, freight rates have not undergone any improvement, according to inputs received.
Market participants speculate the freight rates to go down in the next week due to the availability of excessive vessels, and seasonal slowdown to begin.
Current freight rates (coal cargoes)
| Route | Supramax | Panamax | Capesize |
| Australia to India | 13 | 11 | 9 |
| South Africa to India | 10 | 9 | 7 |
| Indonesia to India | 7 | 8 | 5 |
Freights in USD/MT
Source: SteelMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 9 |
Freights in USD/MT
Source: SteelMint Research
On Friday, the Baltic Dry Index was recorded at 834 points. There was no significant rise in the index due to the bearish sentiments prevailed in the industry. The index is an indicator of movements in global cargo shipping freight rates in respect to all classes of vessels, transporting all kinds of commodities, including coal and iron ore.
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