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

Liebherr BOS Cranes Celebrates 50 Years

Liebherr BOS Cranes Celebrates 50 Years

Baltic Exchange Launches New TCE Earnings Calculator to Simplify Freight, Emissions Analysis

Baltic Exchange Launches New TCE Earnings Calculator to Simplify Freight, Emissions Analysis

Secretary of State for Wales Hosts Roundtable to Realize Tidal, Wave Energy Potential

Secretary of State for Wales Hosts Roundtable to Realize Tidal, Wave Energy Potential

Okeanis Eco Tankers Share Sale to Fuel Vessel Buys

Okeanis Eco Tankers Share Sale to Fuel Vessel Buys

Subscribe for Maritime Logistics Professional E‑News

Fed rate cut will not affect most Gulf stocks
Rescue operation underway for stranded South Korean ferry carrying 267 passengers
Berlin claims that Merz only wanted to go home after Lula's remark about Brazil