Freight rates of cargo vessels have remained stable as demand remained moderate.
Despite spurt in imports of Coking coal from Australia to India and China, number of available vessels were in excess of the booked vessels, as a result there was no strengthening of demand for vessels. Freight rates, as such, remained unchanged.
Current freight rates (coal cargoes)
| Route | Supramax |
| Australia to India | 13 |
| South Africa to India | 12 |
| Indonesia to India | 7 |
Freights in USD/MT
Source: SteelMint Research
Current freight rates (iron ore cargoes)
| Route | Supramax |
| India to China | 8.5 |
Freights in USD/MT
Source: SteelMint Research
The Baltic Dry Index was recorded at 653 points, as on 11Aug’16. The index is an indicator of movement in freight rates in respect to all classes of vessels, transporting all types of commodities, including coal and iron ore.
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