Baltic Index Down at Near Four-week Low on Falling Rates

February 1, 2021

© Olivia / Adobe Stock
© Olivia / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, on Monday was down at its lowest since early January, as rates weakened across vessel segments.

The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 8 points, or 0.6%, to 1,444. The index extended its losing streak to seven sessions.

The capesize index was down 19 points, or 1%, at 1,871, its lowest since Dec. 22.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $159 at $15,516.

China's coking coal futures slumped for a tenth straight session on Monday, dragged down by weakening demand for the raw material and easing concerns over supply in the world's top steel producer.

The panamax index edged 3 points, or 0.3% lower, to 1,630, a near two-week low.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $26 to $14,669.

The supramax index was down 3 points at 1,162.


(Reporting by Bharat Govind Gautam; Editing by Maju Samuel)

Logistics News

DP World to Build Two Container Terminals On UAE's East Coast

DP World to Build Two Container Terminals On UAE's East Coast

Maersk Pauses Service via Chornomorsk Amidst Intensified Russian Attacks

Maersk Pauses Service via Chornomorsk Amidst Intensified Russian Attacks

Inland Tank-Barge Safety Guide Updated

Inland Tank-Barge Safety Guide Updated

BY THE NUMBERS: Copper is Cargo Theft King

BY THE NUMBERS: Copper is Cargo Theft King

Subscribe for Maritime Logistics Professional E‑News

EasyJet's bids are threatened by EU review of airline ownership rules
Uber and Lyft won court ruling on NYC law that requires notice before terminating drivers
Alaska Air reports its business has improved despite a fuel-hit quarter