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

World’s Largest Wind-Powered Ro-Ro Arrives in Baltimore

World’s Largest Wind-Powered Ro-Ro Arrives in Baltimore

Danish Container Traffic Hits Record in Third Quarter

Danish Container Traffic Hits Record in Third Quarter

Gram Car Carriers Rolls Out Orca AI Navigational Analytics Platform

Gram Car Carriers Rolls Out Orca AI Navigational Analytics Platform

Morocco’s Marsa Maroc to Acquire 45% Stake in Spain’s Boluda Maritime Terminals

Morocco’s Marsa Maroc to Acquire 45% Stake in Spain’s Boluda Maritime Terminals

Subscribe for Maritime Logistics Professional E‑News

Data shows that Swedish greenhouse gas emission are on the rise again following government relaxation of fuels policies
Document shows that Italy is planning to invest 2.4 billion Euros in frigates.
US House panel votes on pay for air traffic controllers in shutdown