Baltic Index Sags for 5th Consecutive Session

December 10, 2019

AdobeStock / © Igor Strukov
AdobeStock / © Igor Strukov

The Baltic Exchange's main sea freight index fell for a fifth straight session on Tuesday, weighed down by softer demand for capesize vessels.

The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 23 points, or 1.5%, to 1,528 points.

The capesize index fell 75 points, or 2.3%, to 3,167 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, dropped $793 to $22,652.

The panamax index gained 36 points, or 2.6%, to 1,395 points, registering its tenth consecutive session of gains. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $284 to $11,178.

The supramax index edged up one point to 838 points, its highest in over a month

Reporting by Anjishnu Mondal

Logistics News

EU Wheat Prices Drop 6% as Ukraine Discusses Shipping Protections

EU Wheat Prices Drop 6% as Ukraine Discusses Shipping Protections

US Begins Importing Iraqi Oil Through Syria

US Begins Importing Iraqi Oil Through Syria

Aramco Offers Additional Crude Cargoes Amidst Houthi Threats

Aramco Offers Additional Crude Cargoes Amidst Houthi Threats

Shipowners Pause Vessel Deliveries to Ukraine's Black Sea Ports

Shipowners Pause Vessel Deliveries to Ukraine's Black Sea Ports

Subscribe for Maritime Logistics Professional E‑News

Tanker switches Asia voyage via Suez amid Houthi warnings, owner says
Freeport LNG will take more natgas Friday, after the unit closed on Thursday. LSEG data
NextEra CEO: We have secured full ownership of the Iowa nuclear plant that is being restarted to power Google data centers.