marine link image

Baltic Index Sags Again on Weak Capesize Demand

December 17, 2019

AdobeStock / © Lucasz Z
AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index fell for a tenth-straight session on Tuesday, as capesize vessel rates hovered near a six-month low.

The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 34 points, or 2.6%, to 1,281, its lowest since Nov. 21.

The capesize index slid 94 points, or 4.0%, to 2,240, its lowest level since June 20. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, fell $494 to $16,566.

The panamax index was down 44 points, or 3%, at 1,421. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $348 to $11,383.

The supramax index fell 13 points to 802.

Reporting by Shreyansi Singh

Logistics News

Report: Over 20 Commercial Ships Transit Hormuz

Report: Over 20 Commercial Ships Transit Hormuz

CMA CGM Acquires Fattal Group

CMA CGM Acquires Fattal Group

Democratic Republic of Congo Copper Exports Fall 15%, Cobalt Rebounds

Democratic Republic of Congo Copper Exports Fall 15%, Cobalt Rebounds

New Pedestrian and Cycle Bridge Transported to Stockholm by Sea

New Pedestrian and Cycle Bridge Transported to Stockholm by Sea

Subscribe for Maritime Logistics Professional E‑News

Bangladesh launches the 'Farmers' Card' in order to support agriculture sector
US truckers' diesel spending on Middle East conflict reaches record high
Cuba's top destinations are deserted and without fuel or power due to US sanctions