India: Pacific coal freights remain under pressure; Atlantic supported by tight tonnage

• Pacific freights soften on weak enquiries, ample tonnage
  
  
• Atlantic rates remain firm amid tighter vessel supply
  
  

India's dry bulk coal freight market remained mixed in the assessment week ended 19 June 2026. The Panamax segment stayed under pressure amid subdued Pacific cargo demand and ample prompt vessel availability, while tighter tonnage and steady Atlantic enquiries helped cushion the downside.

Meanwhile, the Supramax segment remained comparatively resilient, supported by healthy Atlantic demand and balanced Indian Ocean fundamentals despite quieter trading activity in Asia.

A charterer said, "There haven't been many fresh enquiries in the Pacific this week, so owners are having to compete harder for the available cargoes."

A shipbroker said, "The Atlantic is still holding up well, but activity in the Pacific remains fairly quiet."

Route-wise update

Market highlights

• Baltic Dry Index (BDI) extends losses w-o-w: The BDI fell by 2.8% (76 points) w-o-w to 2,653 on 17 June, compared with 2,729 a week earlier, as the Baltic Exchange published its latest assessment ahead of the Dragon Boat Festival holiday in China. The Panamax index eased by 1.2% (28 points) to 2,223, pressured by subdued cargo demand and ample vessel availability in the Pacific. Meanwhile, the Supramax index climbed by 4.4% (72 points) to 1,705, supported by healthy Atlantic cargo demand, tightening vessel supply and steady minor bulk trading activity across key regions.
  
  
• Bunker prices extend decline w-o-w: Bunker prices fell by $46/tonne (t) w-o-w to $667/t as of 19 June, compared with $713/t a week earlier, tracking softer fuel oil values and lower crude oil prices despite ongoing geopolitical uncertainties.
  
  
• Brent crude futures extend losses w-o-w: Brent crude oil (August 2026 contract) was assessed at $79.90/barrel (bbl) on 19 June, down $7.21/bbl w-o-w from $87.11/bbl a week earlier, amid easing geopolitical concerns and softer global demand expectations.
  
  
• DCE coke futures soften w-o-w: Coke futures on the Dalian Commodity Exchange eased to RMB 2,019.50/t ($298.33/t) for the September 2026 contract as of 19 June, down from RMB 2,078/t ($306.66/t) a week earlier, reflecting softer market sentiment and evolving expectations for China's coke and steel sectors.
  
  

Outlook

Coal freight rates to India are expected to remain mixed in the near term. Atlantic-origin routes may stay supported by tight vessel availability and firm cargo demand, while Pacific routes could remain under pressure amid subdued fixture activity and ample tonnage.

Market participants are also likely to remain cautious due to uncertainty around coal demand trends and broader commodity market sentiment, limiting the scope for a significant freight rebound despite steady import requirements from Indian buyers.