India: Coal vessel freight rates fall w-o-w amid limited inquiries

• Weak buying interest seen before festive holidays
  
  
• Falling bunker prices pressurising freights
  
  

India's coal vessel freights remain under pressure this week due to lacklustre activities at ports. Indian buyers remain cautious due to approaching festival holidays, resulting in absence of trading activities. Notably, thermal coal stocks at Indian ports remained largely stable w-o-w to 12.47 million tonnes (mnt) in week 41 from 12.67 mnt in week 40, calendar year 2024 (CY'24), according to BigMint's data.

" Falling bunker prices and weak buying interest from India have kept freight rates under pressure. Also, charters remained quite this week, resulting in absence of fixtures in the global market." shipbroker informed BigMint.

Route specifications:

• Australia-India freights stable: Freights from Australia remained stable w-o-w, as per BigMint's assessment, rates for Hay Point Port to Paradip were at $15.9/dry metric tonne (dmt). Sources informed that SAIL is looking for Panamax vessel from Gladstone to Vizag Port for mid-Nov shipment period. In addition, limited inquiries have kept freight at similar level, as per sources informed.
  
  
• South Africa-India freights fall: Freights from the Richards Bay Coal Terminal (RBCT) to Paradip stood at $14.88/t, down by $0.47/t w-o-w. Absence of fresh inquiries for the route as the festive season approaches in India. As per sources, some charters will be active in coming weeks for November shipment.
  
  
• Indonesia-India freights decrease: Freights for coal shipments from East Kalimantan to Paradip stood at $13.05/t, down by $0.95/t w-o-w. As per sources, a fixture got concluded from Indonesia to India route for November shipment period. Also, fresh fixtures volume happening for the route were seen declining.