Bulk shipping freight rates continued to remain stable this week due to no improvement in demand. Freight rates of all classes of vessels were assessed this week within the range of USD 6-11.50/MT.
Availability of excess vessels and intense competition among shipping companies have prevented upswing in freight rates. Moreover, slowdown in major global economies has been contributing decisively towards lackluster freight market.
Crude oil prices have continued to remain low, ruling out any influence on shipping freight rates. On 12 Nov’15, crude oil prices were reported at USD 40.21/barrel.
Viewing at prevailing demand scenario, there is no prospect of any increment in freight rates in the next week.
Current Freight Rates
During this week, freight rates from South Africa to India for all classes of vessels were assessed within USD 7-11.50/MT
1. Supramax : USD 10.50-11.50/MT
2. Panamax: USD 7.50-8.50/MT
3. Capesize: USD 7-8/MT
Freight rates from Indonesia to India were assessed within USD 6-7/MT
1. Supramax: USD 6-7/MT
2. Panamax: USD 6-7/MT
3. Capesize: USD 5-6/MT
Freight rates from Australia to India were within the range of USD 8-11/MT
1. Supramax: USD 10-11/MT
2. Panamax: USD 8-9/MT
3. Capesize: USD 8-9/MT
Month-wise crude oil prices with vessel freight
| Month | Crude Oil Price | Vessel Freight, South Africa to India |
| 14-Jul | 105.61 | 15 |
| 14-Aug | 100.75 | 15.5 |
| 14-Sep | 95.98 | 15.8 |
| 14-Oct | 85.06 | 15.6 |
| 14-Nov | 75.57 | 16 |
| 14-Dec | 59.46 | 12.5 |
| 15-Jan | 44.38 | 9 |
| 15-Feb | 54.06 | 9.5 |
| 15-Mar | 52.46 | 10.5 |
| 15-Apr | 57.3 | 9.5 |
| 15-May | 62.16 | 10 |
| 15-Jun | 60.21 | 10.4 |
| 15-Jul | 54.19 | 11.5 |
| 15-Aug | 45.46 | 10.5 |
| 15-Sep | 44.48 | 10 |
| 14-Oct | 44.66 | 9.5 |
| 15-Nov | 40.21 | 7.5 |
Panamax Vessel prices in USD/MT
Oil prices in USD/barrel
Source: OPEC, Coalspot
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