- Tight Pacific vessel supply supports Panamax rates
- Ample Supramax tonnage weighs on market sentiment
Dry bulk coal freights to India showed a mixed trend w-o-w on 12 May. Market activity remained moderate across key basins, with participants pointing to selective cargo movement and cautious fixing interest.
On the Australia-India Panamax route, tighter Pacific tonnage and steady Australian cargo flow supported freights, despite measured trading activity. Supramax activity from Indonesia slowed amid higher vessel availability and muted coal enquiries.
Out of the Atlantic basin, sentiment remained largely stable, though limited fresh enquiries dragged rates lower. Market participants highlighted that vessel availability remained relatively balanced, keeping freight movements within a narrow range.
A shipbroker said, “The market is volatile. Bunker prices have been continuously rising, so the rates may increase in the coming days.” Meanwhile, a coal trader noted, “Freight sentiment has so far remained stable,” reflecting a cautious market tone.
Broader dry bulk sentiment remained mixed, with Capesize easing while Panamax stayed firm. A shipbroker added, “Capesize activity has softened slightly, while the Panamax market remains firm. The Supramax segment is largely steady with some easing in select regions, whereas Handy vessels continue to show positive momentum.”
Outlook
Freight sentiment is likely to remain mixed in the coming days, supported by firm Pacific cargo flow and tighter Panamax supply, while ample Supramax tonnage and volatile bunker prices may keep overall activity measured.
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