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

There’s a Master on the Run

There’s a Master on the Run

Maersk: Effective US Tariffs Average Around 21% Currently

Maersk: Effective US Tariffs Average Around 21% Currently

US Grain Shipments Surge 9% in face of Chinese Tariffs

US Grain Shipments Surge 9% in face of Chinese Tariffs

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Subscribe for Maritime Logistics Professional E‑News

In June, Northeast Asia sent the most jet fuel into Europe in almost a year
INDIA RUPEE-Rupee dips alongside Asian peers; tariff deadline, Fed cut path in focus
KLM crews strike in Amsterdam during the summer holidays