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Dry bulk shipping: Supramax TCE on PG-EC India at 2-year low on dismal demand

The Supramax freight rate for hauling dry bulk commodities from the Persian Gulf to east coast India has dropped to a two-year low in February on dismal demand for products coupled with competition from the Panamax segment. The time charter equivalent rate for a Supramax vessel opening in west coast India to do a trip with limestone via the Persian Gulf (PG) to east coast India averaged $4,996/day in February, the lowest since S&P Global Platts launched the assessment in January 2017. The lowest daily print for this route was February 19 at $4,459/d, down 70% from the high […]

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