India: Coal vessel freights exhibit mixed trend w-o-w in post-festive market

• Limited cargo availability pressure freights
  
  
• Indonesia-India route sees higher coal cargo
  
  

India's coal vessel freights showed a mixed trend this week amid weak sentiments post-festive holidays. Limited cargoes and availability of vessels pressured freights. Also, coal import volume remained constant, but ship-owners preferred the comparatively smaller Supramax over Panamax, resulting in declining freights, sources informed BigMint.

In addition, thermal coal stocks at Indian ports remained largely stable this week, with a marginal dip of 0.28%. Stocks settled at 12.43 million tonnes (mnt) in week 44, compared to 12.46 mnt in week 43, according to BigMint's data.

Baltic index drops to 9-month low: The Baltic Dry Index (BDI) was recorded at 1,378 points on 4 November, its lowest level since 5 February's 1,407 points. Notably, the Baltic Panamax Index stood at 1,199 points against 1,444 points on 5 February. Additionally, the Baltic Supramax Index declined to 1,163 points on 4 November against 1,189 points on 26 February.

Route specifications:

• Australia-India freights drop w-o-w: Freights from Australia were down by $0.2/t w-o-w. Rates for Hay Point Port to Paradip stood at $14.88/dry metric tonne (dmt), as per BigMint's assessment. According to sources, SAIL booked a Panamax vessel from east coast Australia to east coast of India at $15/t. The shipment is scheduled for early December.
  
  
• South Africa-India freights inch up w-o-w: Freights from the Richards Bay Coal Terminal (RBCT) to Paradip stood at $14.36/t, up by $0.25/t w-o-w. BigMint observed limited inquiries for the route and a few fixtures are under negotiation keeping freights at higher levels.
  
  
• Indonesia-India freights fall w-o-w: Freights for coal shipments from East Kalimantan to Paradip stood at $11.95/t, down by $0.2/t w-o-w. As per sources, movement of ships on the Indonesia-India route improved as coal importers from India are seeking tonnages from the west coast of Indonesia at $12.9/t levels.