Shipping freight market revives: Indian companies are yet to see the change Back to News & Events List


The shipping freight market is turning the corner, and the worst seems behind it. The freight market is here to stay firm, at least for some time, say analysts. From next year, however, new regulations being implemented might have some implication for the industry. Indian companies have a large share of tankers in their fleet, so their revival is yet to come.

Fortunes turning better

Benifer Jehani, director, CRISIL Research, said: “The shipping sector will now see fortunes turning better for them. Freight-charter rates have seen an increase of 35 per cent in the dry-bulk segment, while the container segment has also seen a 30-35 per cent rise.” However, the tanker segment has not done so well, as rates have fallen by 5-10 per cent. The fall is even bigger for very large crude carriers.

Ranjeet Singh, who has been the Chief Executive Officer of Essar Shipping since September 2016, said, “momentum seen in global shipping freight market will also benefit Indian shipping companies”.

 

Source: Business Standard


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