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

ONE, MTI Launch QUAVEO JV to Accelerate AI-Driven Digital Transformation

Suez Canal Rebound Muted Despite Houthi Attack Stoppage

Suez Canal Rebound Muted Despite Houthi Attack Stoppage

PCTC Vessel MV Ocean Explorer Delivered

PCTC Vessel  MV Ocean Explorer Delivered

ITI Achieves Cargo Transfer Record in Chile

ITI Achieves Cargo Transfer Record in Chile

Subscribe for Maritime Logistics Professional E‑News

Aluminium prices in the US reach record levels due to tariffs and low stock
US air force flexes its power in Maduro's extraction mission
US air force flexes its power in Maduro's extraction mission