Global iron ore freight rates strengthened, supported by active fixtures and firmer Capesize demand. Brazil-Qingdao rates rose close to a two-month high, while improved chartering activity across key long-haul routes lifted overall market sentiment despite pockets of softer activity.
India-bound coal freight rates diverged, with Panamax rates strengthening on firmer Australian coal demand and tighter prompt tonnage, while Supramax rates remained under pressure amid subdued Indonesian enquiries and ample vessel availability. Overall, sentiment remained mixed as stronger Panamax activity contrasted with softer Supramax demand.
India’s rice export freight market remained firm, with bulk rates supported by steady West Africa demand and congestion at key destination ports, while container freight stayed elevated amid tight vessel space and equipment shortages. However, volatile rice prices kept exporters cautious, limiting fresh bookings and upside in freight rates.
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