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

Russian Drone Hits Two Foreign-Flagged Vessels Near Odesa

Russian Drone Hits Two Foreign-Flagged Vessels Near Odesa

Turkey to Import 210,000 Metric Tons of Feed Barley

Turkey to Import 210,000 Metric Tons of Feed Barley

Senalia Expects Double Grain Shipments in 2025/26

Senalia Expects Double Grain Shipments in 2025/26

US Import Cargo Volume Expected to Remain Down Year-Over-Year Until Spring

US Import Cargo Volume Expected to Remain Down Year-Over-Year Until Spring

Subscribe for Maritime Logistics Professional E‑News

Russian drone strikes hit two foreign vessels in Odesa region, Kyiv says
Mississippi man accused in killing six people, including a 7-year old child and a pastor
Kyiv scrambles after Russian attack to repair the damaged power grid