Baltic Index Snaps Winning Streak as Capesize, Panamax Rates Sag

December 11, 2018

File Image / AdobeStock / © Lidian Neeleman
File Image / AdobeStock / © Lidian Neeleman

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, marked its first decline in last six sessions on Tuesday, weighed down by weaker demand for capesize and panamax vessels.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 21 points, or 1.5 percent, to 1,364 points.

The capesize index snapped its five-day winning streak and dropped 2.7 percent, or 61 points, to 2,183 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, decreased by $477 to $17,077.

The panamax index eased 10 points to 1,454 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined by $81 to $11,626.

The supramax index was up 3 points to 958 points.


Reporting by Brijesh Patel

Logistics News

CMA CGM Celebrates Naming NOTRE DAME, the Largest French-Flagged Containership

CMA CGM Celebrates Naming NOTRE DAME, the Largest French-Flagged Containership

Swire Shipping Announces New Branch Office in Timor-Leste

Swire Shipping Announces New Branch Office in Timor-Leste

ICS Publications Releases 6th Edition of Environmental Compliance Shipping Guide

ICS Publications Releases 6th Edition of Environmental Compliance Shipping Guide

Fleetwork: Posidonia 2026 Signals Turning Point for Al, Cloud Adoption in Shipping

Fleetwork: Posidonia 2026 Signals Turning Point for Al, Cloud Adoption in Shipping

Subscribe for Maritime Logistics Professional E‑News

India allows four Chinese-linked companies to bid on government projects
Sources say that Europe is targeting shadow fleet tankers using false Cameroon flags
Sources say that Russia is set to import North Asian Jet Fuel amid the fuel crisis.