Coal news and updates

International freight rates ease further in December

International freight rates continued to ease in the month of December amid weak economic cues from developed markets and low demand from the commodity segments, sources 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 December 28 from $6.70 per ton on November 30 and $7.90 per ton on October 30. The rate for RBCT to India’s east coast was also down to $6.50 per ton on December 28 from $6.90 per ton on November 30 and from $8.00 on October 30.

Freight rates for the Indonesia to India route showed a similar trend. For Indonesia to India’s west coast, freight rates dropped to $4.30 per ton on December 28 from $5.20 per ton on November 30 and $5.80 per ton on October 30. The rate for the east coast was quoted at $3.50 per ton on December 28 from $4.30 on November 30 and $4.60 per ton on October 30.

Also, the freight rate for Australia to India (Hay Point) ended lower at $6.70 per ton on December 28 from $7.75 per ton on November 30 and from $8.20 per ton as on October 30.