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

LR, SHI, Capital Clean Energy Carriers Corp to Design Floating Data Center

LR, SHI, Capital Clean Energy Carriers Corp to Design Floating Data Center

Ship Managers Step Up with Plans for Stability

Ship Managers Step Up with Plans for Stability

Unite, Prepare and Enable Maritime Cyber Readiness

Unite, Prepare and Enable Maritime Cyber Readiness

Book Review - BLUE BHARAT: India’s Voyage to a Resilient Ocean Economy

Book Review - BLUE BHARAT: India’s Voyage to a Resilient Ocean Economy

Subscribe for Maritime Logistics Professional E‑News

Oil products shipments exit Hormuz, LNG tanker loads at UAE
MSC confirms crew is safe after vessel was hit by projectiles on Monday in Iraq's Umm Qasr Port
EasyJet attracts investors who spot a bargain as they look to takeover the airline