India's bulk shipping freight rates increase due to demand
Rates increased due to surge in heavy shipments of coal and iron ore to China.
The Dollar Business Bureau
India's bulk shipping freight rates have begun showing an upward incline off late. Most of the shipping rates have increased due to a surge in heavy shipments of coal and iron ore to China.
Market participants predict further increase in the freight rates as shipping activity has surged.
The current freight charges carrying iron ore cargoes from India to China via Supramax bulk carrier is $8 per MT.
The increase in freight rates has also resulted in an increase in the Baltic Dry Index being bullish, at 1257 points on Nov 18. The Baltic Dry Index is an indicator of movement in global freight rates concerning all kinds of vessels carrying all kinds of commodities.
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