- Declining thermal coal inventories drive imports
- Baltic Panamax Index surges by 370 points w-o-w
Coal freights in India rose w-o-w amid a surge in imports due to rising power demand, tighter vessel availability, and stronger Pacific market fundamentals. Firm demand for Panamax vessels in the Asia-Pacific region, coupled with competition from other bulk commodities like iron ore and grains, further tightened supply, pushing freight rates upward.
Notably, thermal coal inventories at Indian ports fell slightly by 2% w-o-w to 11.83 million tonnes (mnt) in week 11 of CY’25, down from 12.08 mnt in the previous week, as per BigMint data.
Baltic indices increase w-o-w: The Baltic indices, which indicate trends in vessel demand, increased w-o-w, suggesting a rise in demand among ship-bookers. The Baltic Dry Index (BDI) was recorded at 1.669 points on 17 March, up by 269 points w-o-w. Meanwhile, the Baltic Panamax Index (BPI) rose by 370 points to 1,365 points on 17 March against 995 points on 10 March. Additionally, the Baltic Supramax Index (BSI) was assessed at 930 points on 17 March, climbing up by 66 points w-o-w.
Route specifications
- Australia-India rates rise: Freights from Australia to India rose by $1.5/tonne (t) w-o-w, with BigMint’s assessment indicating that rates for Hay Point Port to Paradip were at $15/dry metric tonne (dmt). Sources informed that SAIL booked one Panamax vessel from Australia to Vizag at $16.45/t, with shipment scheduled for 10-19 April.
- South Africa-India freights increase: Freights from the Richards Bay Coal Terminal (RBCT) to Paradip stood at $13.4/t, up by $1/t w-o-w. According to sources, one Panamax vessel from South Africa to Vizag was booked with shipment scheduled for 1-10 April.
- Indonesia-India freights climb: Freights for coal shipments from East Kalimantan to Paradip stood at $13.9/t, increasing by $0.7/t w-o-w. As per sources, one Supramax vessel was booked from Indonesia to India at $13.7/t, with shipment scheduled for 22-28 March.
Leave a Reply