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

Express Global Expands Asia Presence with New Singapore Office

Express Global Expands Asia Presence with New Singapore Office

DNV’s Insight: 38 New Orders for Alternative-Fueled Vessels in April

DNV’s Insight: 38 New Orders for Alternative-Fueled Vessels in April

Sentinel Midstream to Begin Building Texas Deepwater Oil Export Port

Sentinel Midstream to Begin Building Texas Deepwater Oil Export Port

Trump Pauses Effort to Escort Ships in Strait of Hormuz

Trump Pauses Effort to Escort Ships in Strait of Hormuz

Subscribe for Maritime Logistics Professional E‑News

UAE denies involvement of Sudan airport attack
Uber predicts strong bookings for the second quarter despite Middle East woes
Coast guard rescues crew after cargo ship sinks near Greece