Supramax bulker freight rates are getting higher in recent days as more coal and nickel ore are being moved from Southeast Asia to China and India.

The Baltic Exchange Supramax-Asia index on June 24 registered the South China via Indonesia-East Coast India rate at US$7,038/day, up US$7 from June 23 and up from US$6,682/day on June 17.

The South China via Indonesia-South China rate was unchanged from June 23 at US$5,241/day, but higher than US$4,954/day on June 17.

A Singapore-based chartering manager said, "Paper trades for all bulker sizes are moving up, so that has had a positive effect on sentiment. For Supramaxes, nickel ore movements are taking up tonnage. Tonnage is also tight for grain exports from the US Gulf."

Reported fixtures show undisclosed charterers fixing Tolani Shipping's Prabhu Mihikaa and Petrofin Ship Management's Olympias for US$8,500/day and US$8,000/day, respectively, to move Indonesian coal to India. An undisclosed charterer also fixed Jadroplov International Maritime's Peristil for US$7,200/day to ship nickel ore from the Philippines to China.

Braemar ACM observed that the market in Southeast Asia has firmed up significantly, with freight rates to ship Indonesian coal to China, India, and Thailand rising by US$1,000 over the past two weeks.

A Singapore-based Supramax broker said that the Indonesia-India movements are firm and that they expect either Indonesia-India coal shipments or nickel ore to move from the Philippines to China.