Baltic Index Slips on Weaker Capesize Demand

December 12, 2018

File Image: CREDIT: Port of Portland, UK
File Image: CREDIT: Port of Portland, UK

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, slipped on Wednesday as capesize vessel rates declined.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 11 points, or 0.8 percent, to 1,353 points.


The capesize index fell 30 points, or 1.4 percent, to 2,153 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, decreased by $269 to $16,808.

The panamax index dipped 9 points, or 0.6 percent, to 1,445 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined by $72 to $11,554.

The supramax index was up 5 points at 963 points.


Reporting by Harshith Aranya

Logistics News

Rio Brasil Terminal Receives Two New Quay Cranes

Rio Brasil Terminal Receives Two New Quay Cranes

By the Numbers: Maritime Safety in 2026 — Fewer Losses, Bigger Risks

By the Numbers: Maritime Safety in 2026 — Fewer Losses, Bigger Risks

Markets: When Will Container Shipping Return to "Normal"

Markets: When Will Container Shipping Return to "Normal"

HDI Global Reorganizes US Operations, Welcomes New CEO

HDI Global Reorganizes US Operations, Welcomes New CEO

Subscribe for Maritime Logistics Professional E‑News

FedEx drops on margin concerns, as investors consider freight impact
Sources say that Russia has asked Kazakhstan for gas to alleviate shortages.
Sources say that Russia is set to export record volumes of oil from its western ports in June