Baltic Index Dips on Weakened Capesize Rates

October 8, 2018

© Lukasz Z / Adobe Stock
© Lukasz Z / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell on Monday, hurt by weaker demand for capesize vessels.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 6 points, or 0.4 percent, to 1,530 points.

The capesize index lost 39 points, or 1.9 percent, to 2,042 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $334 at $17,692.

The panamax index rose 22 points, or 1.3 percent, to 1,749 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $180 to $14,029.

The supramax index gained 4 points to 1,201 points.


(Reporting by Brijesh Patel; Editing by Shounak Dasgupta)

Logistics News

VLCC Charter Rates Soar - “We are in unprecedented times" say CEO

VLCC Charter Rates Soar - “We are in unprecedented times" say CEO

MV Isle of Islay Begins Maiden Voyage to Scotland

MV Isle of Islay Begins Maiden Voyage to Scotland

Port of Los Angeles Selects Pacific Cruise Terminals Developer, Operator of Two Cruise Centers

Port of Los Angeles Selects Pacific Cruise Terminals Developer, Operator of Two Cruise Centers

Associated Terminals takes a Pair of All-Electric Cranes

Associated Terminals takes a Pair of All-Electric Cranes

Subscribe for Maritime Logistics Professional E‑News

US energy sector prepares for winter storm, as crude and natural-gas output falls
Ukraine's grid operator claims that the energy situation in Ukraine has'significantly worsened'
AirAsia is close to a deal with Airbus to buy around 100 A220 aircraft, according to sources