• East coast bulk rates rise on stronger Supramax demand
• Container lanes firm across Africa and Gulf on selective conversions

India’s rice export freight market firmed w-o-w as of 25 February 2026, marking a shift from the previous week’s softer tone. East coast bulk rates strengthened across West Africa-bound routes, while container freights also moved higher on most Africa corridors and select Gulf trade lanes. Overall sentiment improved across both segments, although cargo demand conversion remained uneven amid elevated freight levels.

“I can say price resilience regionally, but broader global prices are showing mixed signals as supply and demand dynamics adjust”, a source said.

Bulk market: Supramax strength drives freights higher

Bulk freight rates from Kakinada strengthened across West African destinations, supported by improved Supramax sentiment and consistent shipment programmes.

Despite cautious fixing, strong supply and steady export demand are supporting the market, with firm rate expectations and cautious buyer response shaping bulk freight trends.

Container market: Rates firm on Africa routes

Containerised exports from Mundra and JNPT recorded firmer trends across most African destinations, reflecting consistent bookings and improved space dynamics.

One source noted, “The market is almost stable to positive from the higher side, but demand is very low at high prices.”

East Africa strengthened on steady shipments, while Gulf lanes remained active and firm. However, elevated freight levels are prompting tougher negotiations, slowing conversions on some routes.

Freight & bunker market update

The Baltic Dry Index (BDI) remained supported w-o-w, aided by relatively stable Supramax sentiment and steady minor bulk activity. Firm bunker prices also continued to provide cost-side support, limiting downward freight corrections.

Rice market: Strong supply supports export continuity

India’s rice export outlook remains supported by high production and ample government stocks, sustaining shipments to key African and Asian markets. Demand is broadly steady, though premium segments and some regional buyers remain cautious.

Outlook

Freight sentiment is expected to stay firm backed by active cargo pipelines and steady vessel positioning across the bulk and container segments. Africa-bound routes are likely to remain well supported, while Gulf lanes could see further firming amid continued bookings.

Published Date: February 25, 2026