India: Vessel freight rates inch up on positive market sentiments

Vessel freight rates for commodities moved north as markets showed positive sentiments throughout this week, SteelMint noted.

As per sources, Asia-Pacific Supramax dry bulk (cargo capacity 50,000-55,000 tonnes) freight rates are on higher side, due to poor weather conditions and increased order. Rates are still going up as the typhoon is delaying vessels movements.

However, Capesize dry bulk (cargo capacity 160,000-170,000 tonnes) freight rates are under pressure due to excess supply of material, despite positive freight agreement rates. The fundamentals in the physical market remain challenging, Steelmint understands.

However, the freight rate of an iron ore-loaded Supramax vessel from the east coast of India to China remained stable w-o-w at $10.5/t.

Freight rates for some routes-