India-bound coal freights firm w-o-w; Panamax gains on Australian demand, Supramax finds support

• Australian Panamax gains on steady coal demand, stronger September volume expectations
• Indonesia-linked Supramax supported by cargo availability and weather-related vessel delays

India-bound coal freight markets firmed in the week ended 18 August 2026, with Panamax and Supramax routes gaining support from steady coal demand, weather-related vessel delays and expectations of stronger Australian volumes. However, overall market sentiment remained mixed amid volatile daily movements and geopolitical uncertainty.

Australian Panamax trades retained support as steady coal demand and expectations of stronger Australian volumes in the second half of September kept owners relatively firm. Activity in the Pacific has since slowed, but underlying demand remains supportive.

A shipbroker said, “There is cargo in the market, but the market can move quite quickly from one day to the next. Bunker is supporting freight to some extent, but there is still a lot of uncertainty because of geopolitical issues.”

Route-wise update

Indonesia-India Supramax trades also found support as more cargoes entered the market and weather-related vessel delays helped tighten prompt availability. However, softer activity across the wider Pacific limited the upside.

South African Panamax activity remained thin, with limited fresh fixing, although firmer regional sentiment provided some support.

The broader dry bulk market remained mixed, “Capesize is looking a little firmer, while Panamax is a bit softer. Supramax and Handysize are more or less flat.” another  shipbroker mentioned.

Outlook

India-bound coal freights are likely to remain mixed in the near term, with Australian Panamax trades retaining support on steady coal demand and expectations of stronger September volumes. Indonesia-India Supramax rates could stay supported if fresh cargoes continue to emerge, although improving vessel availability and softer Pacific activity may cap the upside. Geopolitical uncertainty and fluctuating bunker costs are likely to keep owners and charterers cautious.