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

Indiana Expands Barge Shipment Handling Capacity

Indiana Expands Barge Shipment Handling Capacity

Liebherr to Supply STS Cranes to Port Tampa Bay

Liebherr to Supply STS Cranes to Port Tampa Bay

StormGeo Strengthens Analytics, Appoints New Leader

StormGeo Strengthens Analytics, Appoints New Leader

Port of New Orleans Appoints Kristi App as CCO

Port of New Orleans Appoints Kristi App as CCO

Subscribe for Maritime Logistics Professional E‑News

Delta Air reports $200 million loss due to US Government Shutdown
After Russian attacks on Turkish ships, Turkey talks about Black Sea security with NATO
Spain plans to cull wild boars after the outbreak of swine flu