Coal news and updates

Freight rates ease in November on weak cues

India Coal Market Watch

 December 1: Freight rates continued to ease in the month of November amidst weak economic cues from developed markets and low demand from commodity segments, market source said.

 Freight rates (Panamax) for the Richards Bay Coal Terminal (RBCT) in South Africa to India’s west coast decreased to $6.40 per ton on November 25 from $7.9 per ton on October 30. The rate for RBCT to India’s east coast was also down to $6.50 per ton on November 25 from $8.00 on October 30.

 Freight rates for Indonesia to the India route showed a similar trend. For Indonesia to India’s west coast, freight rates dropped to $5.00 per ton on November 25 from $5.80 per ton on October 30. The rate for the east coast was quoted at $3.90 on November 25 from $4.60 per ton on October 30.

 Also, the freight rate for Australia to India (Hay Point) ended lower at $7.20 per ton on November 25 from $8.20 per ton as on October 30.