Dry bulk freight rates exhibit mixed sentiment

Freight rates for shipping dry bulk commodities in Supramax vessels recorded a marginal hike this week, as per SteelMint's assessment. The freight rate of an iron ore-loaded Supramax vessel from the east coast of India to China edged up at $13-13.5/tonne (t). The route witnessed movement of ships on strong demand for cargoes.

Asia-Pacific Supramax dry bulk (cargo capacity 50,000-55,000 t) freights remained uncertain on limited demand for smaller vessels.

Vessel market sentiment is subdued on some routes amid weak demand. Limited fixtures are rolled in, as it was difficult to conclude fixtures amid low bid levels from charterers in a firm market. Due to disturbance on the routes amid bad weather conditions, cargo movements towards ports are slower.

However, Capesize dry bulk (cargo capacity 160,000-170,000 t) freights have edged up on robust activity. According to sources, demand for large vessels remains healthy and cargo movements for iron ore export in Capesize vessels are quite active in the global market.