Baltic Index Drops On Capesize Rates

by Nakul Iyer
Thursday, November 21, 2019

The Baltic Exchange's main sea freight index ticked lower for a sixth straight session on Thursday, hurt by weaker demand for capesize vessels.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 5 points, or 0.4%, at 1,255 points.

* The capesize index fell 34 points, or 1.4%, to 2,401 points, it's lowest since June 18.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, shed $256 to $18,350.

* Capesize rates have softened as Brazil iron ore exports have again failed to live up to expectations and Atlantic coal remains in limbo, ship broker Fearnleys said in a note on Wednesday.

* The panamax index inched up 2 points to 1,129 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, edged $15 higher to $9,066.

* The supramax index rose 13 points to 731. 

(Reporting by Nakul Iyer in Bengaluru)

Categories: People & Company News Bulk Carriers Logistics

Related Stories

Xeneta: Weekly Ocean Container Shipping Market Update

India OKs Ag Exports to Placate Farmers

WCI Confers Leadership Awards

Current News

Xeneta: Weekly Ocean Container Shipping Market Update

Argentinian Grain Ports Operate Normally Post Strike

Konecranes Introduces Gottwald ESP.4 Mobile Harbor Crane

Argentine Labor Strike Hits Ports

Subscribe for Maritime Logistics Professional E‑News