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

Russia Adds Four LNG Carriers to Fleet

Russia Adds Four LNG Carriers to Fleet

Two New Post-Panamax Cranes Arrive at Port Tampa Bay

Two New Post-Panamax Cranes Arrive at Port Tampa Bay

U.S. Appeals Court Backs FMC in Evergreen Dispute

U.S. Appeals Court Backs FMC in Evergreen Dispute

Strait of Hormuz Closure Curbs Dry Bulk Demand

Strait of Hormuz Closure Curbs Dry Bulk Demand

Subscribe for Maritime Logistics Professional E‑News

Airport Authority Hong Kong offers $2.4 billion in bonds
Walmart invests $350 Million in a third U.S. dairy processing facility
Russia adds four LNG tanks to its fleet ahead of Europe's import ban