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

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Maritime Drone Self-Detonates in Constanta Port

Maritime Drone Self-Detonates in Constanta Port

Oil Slips as Oman Reports Normal Operations at Key Oil Terminal

Oil Slips as Oman Reports Normal Operations at Key Oil Terminal

SEA-LNG: LNG Bunkering is Surging

SEA-LNG: LNG Bunkering is Surging

Subscribe for Maritime Logistics Professional E‑News

China's Xi will visit North Korea to push for deeper ties
Taiwan and China Coast Guards renew standoff in top of South China Sea
UAE markets benefit despite the stalled US/Iran peace talks