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

U.S. Court of Appeals Issues Decision in Case on Demurrage, Detention Billing Practices

U.S. Court of Appeals Issues Decision in Case on Demurrage, Detention Billing Practices

IMO Presents Professor Momoko Kitada with Gender Equality Award

IMO Presents Professor Momoko Kitada with Gender Equality Award

Port Esbjerg Strengthens its Port Control with EU Support

Port Esbjerg Strengthens its Port Control with EU Support

The Port of Bilbao Takes the Stage at Enlit Europe 2025

The Port of Bilbao Takes the Stage at Enlit Europe 2025

Subscribe for Maritime Logistics Professional E‑News

Mexico's Esentia offers shares for 45 pesos each in its IPO
Qatar's wealth fund has shaken up London HSBC Tower plans, say sources
China signs agreement with Zambia to upgrade TAZARA Railway