marine link image

Baltic Index Drops On Capesize Rates

November 21, 2019

© yaniv / Adobe Stock
© yaniv / Adobe Stock

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)

Logistics News

Xeneta Weekly Ocean Container Shipping Market Update: February 27, 2026

Xeneta Weekly Ocean Container Shipping Market Update: February 27, 2026

Maersk Reroutes Some Cape of Good Hope Sailings Due to Unforeseen Constraints in the Red Sea

Maersk Reroutes Some Cape of Good Hope Sailings Due to Unforeseen Constraints in the Red Sea

Nigerian Crude Oil Loading Programs Hold Steady for April

Nigerian Crude Oil Loading Programs Hold Steady for April

Harwich Haven Authority Named a Finalist for Clean and Green Awards

Harwich Haven Authority Named a Finalist for Clean and Green Awards

Subscribe for Maritime Logistics Professional E‑News

Why is it important to oil that the Strait of Hormuz is so wide?
Berkshire Hathaway profits fall due to lower insurance income and writedown
Russia suspends flights from Iran and Israel