Baltic Index at 4-month Low on Weak Demand

November 4, 2019

AdobeStock / © Lucasz Z
AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a four-month low on Monday, weighed down by easing rates across vessel segments.

The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 22 points, or 1.3%, to 1,675, its lowest since July 3.

The capesize index dropped 4 points, or 0.1% to 2,946 points, its lowest in more than a week. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $51 to $24,586.

The panamax index dropped 36 points, or 2.4%, to 1,477, its lowest since July 3. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $284 to $11,858.

The supramax index fell 40 points to 1,005.

Reporting by Shreyansi Singh

Logistics News

Raw Sugar Prices Reach Lowest in More Than a Month While Coffee Rises

Raw Sugar Prices Reach Lowest in More Than a Month While Coffee Rises

USMMA Honors Top Graduates of Class of 2026

USMMA Honors Top Graduates of Class of 2026

DP World Introduces South Korea Seagrass Restoration Initiative

DP World Introduces South Korea Seagrass Restoration Initiative

Tecon Suape Deploys Container Scanner to Enhance Security, Operational Efficiency

Tecon Suape Deploys Container Scanner to Enhance Security, Operational Efficiency

Subscribe for Maritime Logistics Professional E‑News

BHP workers in Australia's key iron ore export hub support the strike by hundreds
German players will pay for 600 stadium trips to fans amid rising transport costs
Iran is seeking funds as US negotiations edge towards an interim agreement, sources say