Shipping freight market revives: Indian companies are yet to see the change

Bulk cargo demand has received a boost following the substitution of lower-grade coal and iron ore in the East Asian nations with higher-grade inputs

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