marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

Baltic Index Snaps 7-day Losing Streak

July 29, 2020

© Alexey Lesik / Adobe Stock
© Alexey Lesik / Adobe Stock

The Baltic Exchange's main sea freight index rose on Wednesday, after declining for seven consecutive sessions, as rates for larger capesize and panamax vessels bounced back after a series of declines.

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 53 points, or 4.2%, to 1,317.

The Baltic capesize index gained 145 points, or 7.3%, to 2,137. The index had posted losses in the previous seven sessions.

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, jumped $1,197 to $17,721.

The panamax index was up 30 points, or 2.6%, at 1,166, ending a 10-session losing streak.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $271 to $10,491.

The supramax index fell 7 points to 890.


(Reporting by Shreyansi Singh; Editing by Ramakrishnan M.)

Logistics News

Ukraine Explores Using Baltic Ports for Grain Exports

Ukraine Explores Using Baltic Ports for Grain Exports

Few Countries Purchase Russian Wheat After Black Sea Trade Stalls

Few Countries Purchase Russian Wheat After Black Sea Trade Stalls

SGX, European Energy Exchange Offer Baltic Handysize Futures Contracts

SGX, European Energy Exchange Offer Baltic Handysize Futures Contracts

Supply Pressurei in Container Vessel Sector

Supply Pressurei in Container Vessel Sector

Subscribe for Maritime Logistics Professional E‑News

Murmansk, a Russian Arctic port, will start shipping grain using fertiliser equipment
US wants to spend another $30 billion on aviation systems
Ethiopian Airlines suspends flight to Tigray after taking over Mekelle Airport