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

Golden Pass LNG Ships First Export Cargo from Texas Terminal

Golden Pass LNG Ships First Export Cargo from Texas Terminal

First LNG Export Cargo Departs Sabine Pass Terminal

First LNG Export Cargo Departs Sabine Pass Terminal

Port Houston Surpasses 1 Millions TEUs in Q1

Port Houston Surpasses 1 Millions TEUs in Q1

Irish Maritime Honor Bestowed on Port of Albany Chief Commerce Officer Megan Daly

Irish Maritime Honor Bestowed on Port of Albany Chief Commerce Officer Megan Daly

Subscribe for Maritime Logistics Professional E‑News

Portugal asks Air France KLM and Lufthansa for binding bids to compete in the tight race for TAP
Italy will see revenue from the sale of state assets worth 0.8% GDP by 2028
Chernihiv wins Ukrainian Cup semi-finals without firing a shot at the opponent's goal