Bulk coal vessel freight rates decline w-o-w amid lack of fresh inquiries

Coal vessel freight rates declined this week due to reduced trading activity. A slowdown in fresh inquiries, coupled with higher tonnage levels, has contributed to the decrease in freight rates. The subdued demand, driven by sufficient stock availability at ports, has further limited vessel inquiries.

Thermal coal stocks at Indian ports stood at 14.55 million tonnes (mnt) in week 34, compared to 14.64 mnt in week 33, reflecting stability w-o-w, according to data compiled by BigMint.

Route specifications:

• Australia-India freight rates decrease w-o-w: Freight rates from Australia decreased this week. As per BigMint's assessment, freight rates from Port Hay Point to Paradip were recorded at $15.48/dry metric tonne (dmt), down by $0.62/t w-o-w. As per sources, SAIL has fixed a Panamax vessel from east coast of Australia to east coast of India for end-September shipment period.
  
  
• South Africa-India freights drop w-o-w: Freight rates from the Richards Bay Coal Terminal (RBCT) to Paradip are currently at around $14.81/t, dropping by $0.89/t w-o-w. According to sources, the absence of fresh fixtures for the route was due to sluggish demand from market participants in India.
  
  
• Indonesia-India freights inch down w-o-w: Freight rates for coal shipments from East Kalimantan to Paradip stood at $13/t, down by $0.05/t w-o-w. A lack of fresh inquiries, driven by sufficient stock at ports, has limited trading activities.