marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

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

Suez Canal Container Ship Transits Rebound

Suez Canal Container Ship Transits Rebound

EU Wheat Prices Rise After Another Black Sea Attack, Algerian tender

EU Wheat Prices Rise After Another Black Sea Attack, Algerian tender

Russia says it Hit Vessels Delivering Military Cargo to Ukraine

Russia says it Hit Vessels Delivering Military Cargo to Ukraine

OMS Group Celebrates Keel-Laying of CS Resilience

OMS Group Celebrates Keel-Laying of CS Resilience

Subscribe for Maritime Logistics Professional E‑News

Alaska Air expects certification of the Boeing 737 MAX 10 by end-September
Oil giants rush in to help Italy's Meloni reduce energy costs by introducing fuel price caps
Alaska LNG savings justify billions of investment, developer claims