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

PD Ports Expands Operations with Third Electric Liebherr LPS 550

PD Ports Expands Operations with Third Electric Liebherr LPS 550

VADM (Ret) White Named Keynote Speaker for MRS ‘26

VADM (Ret) White Named Keynote Speaker for MRS ‘26

India's Adani Ports Pumps $1.36B in Expansion

India's Adani Ports Pumps $1.36B in Expansion

Jensen Tapped as CEO for Gatehouse Maritime

Jensen Tapped as CEO for Gatehouse Maritime

Subscribe for Maritime Logistics Professional E‑News

Airline cancellations in response to Middle East conflict
Britain will bring 10 people into the UK as a precautionary measure after an outbreak of hantavirus
Source: Ivory Coast officials will be sent to the cocoa farmers' protests in order to quell them.