CRISFrex indicates that overall freight rates remained stable on-month in August. Freight availability improved marginally for the ‘market load’ category, while cement saw a slight decline. Commodities such as auto carriers, fastmoving consumer goods/durables (FMCG/FMCD), parcel/loose goods, textiles, petroleum tankers, steel, mining products (largely coal) and container applications saw similar freight availability levels as in July.

• Over the past few months, freight rates have closely mirrored movement in fuel costs
• In August, utilisation remained the same on-month

FCF similar to July levels

Stable freight availability and rates translated to steady free cash flow (FCF; pre-equated monthly instalment, or EMI) for transporters on-month. The industry’s FCF remained at ~20% in August.