Baltic Index Nudges Up, But Registers Fall for Third Week

October 23, 2020

© eakgrungenerd / Adobe Stock
© eakgrungenerd / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for capesize, panamax and supramax vessels, rose on Friday, buoyed by an uptick in demand for capesize and panamax vessels

The Baltic index rose 14 points, or 1%, to 1,415.

However, the index registered a 4.2% weekly loss, marking its third straight weekly decline.

The capesize index gained 26 points at 2,261, but registered a more than 6% weekly fall.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $212 to $18,749.

Chinese iron ore futures closed lower on Friday and logged their second straight weekly loss, as rising portside inventories hurt prices.

The panamax index gained 19 points, or 1.5%, to 1,274.

The index fell 3.7% this week, its second consecutive weekly dip.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $175 to $11,469.

Among smaller vessels, the supramax index was unchanged at 972.


(Reporting by Anjishnu Mondal in Bengaluru; Editing by Shailesh Kuber)

Logistics News

First Green Methanol Bunkering of New Car Carrier Successfully Completed

First Green Methanol Bunkering of New Car Carrier Successfully Completed

Egypt Looks to Sign Multi-Year LNG Supply Deal

Egypt Looks to Sign Multi-Year LNG Supply Deal

Houthis Threaten Targeted Attacks on Shipping Companies Visiting Saudi Ports

Houthis Threaten Targeted Attacks on Shipping Companies Visiting Saudi Ports

DP World, EBRD Sign $28m Loan to Electrify Constanța Terminal Operations

DP World, EBRD Sign $28m Loan to Electrify Constanța Terminal Operations

Subscribe for Maritime Logistics Professional E‑News

Canada cancels joint celebration of bridge with US, citing Trump's trade threats
Alaska Air forecasts quarterly profit below estimates as jet fuel prices stay high
Boeing wants the US to intervene in record EU loan to Airbus