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

Port of Brownsville Welcomes Local, Industry Leaders at State Address

Port of Brownsville Welcomes Local, Industry Leaders at State Address

US Sanctions Cuban State Oil Company

US Sanctions Cuban State Oil Company

Los Angeles Adopts $3.4 Billion Port Budget

Los Angeles Adopts $3.4 Billion Port Budget

Spiridon II Livestock Transport Organizer Due in Court

Spiridon II Livestock Transport Organizer Due in Court

Subscribe for Maritime Logistics Professional E‑News

Air India wants to delay hundreds of jet deliveries - sources
Air India crash: a year after the tragedy, there is still no final report and families are seeking answers
Source: India summons top US diplomat a second time in protest of strikes on ships near Oman