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India’s weak coal demand, sparse China steel exports hit Supramax TCEs

Hellenicshippingnews - Stumbling Indian coal imports coupled with a lack of steel cargoes from China was forcing Supramax tonnage opening in Southeast Asia to accept considerably lower freight returns for trips into the Indian Ocean than for voyages within the Pacific, market sources said Sept. 11.

The time charter equivalent rate – TCE – or daily income on a 57,000 dwt Supramax-class bulker opening in Singapore to haul coal from Indonesia to east coast India has averaged at a slim premium of $863/d over a similar ship opening in south China since May for moving coal from Indonesia back to China, S&P Global Platts data showed.

Much to the consternation of shipowners, even that premium has been erased since the beginning of September, with the voyage from Indonesia to east coast India currently averaging at a discount of $377/d to the trip to China.

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