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

New $1.2B Subsea Cables Factory Plan Set to Transform Port of Tyne

New $1.2B Subsea Cables Factory Plan Set to Transform Port of Tyne

Barcelona to Get New Finished-Vehicle Logistics Terminal

Barcelona to Get New Finished-Vehicle Logistics Terminal

Phase 1 of Gdynia Quay Upgrade Complete

Phase 1 of Gdynia Quay Upgrade Complete

Egypt's Suez Canal Offers 15% Discount to Win Back Big Container Ships As Trade War Stabilizes

Egypt's Suez Canal Offers 15% Discount to Win Back Big Container Ships As Trade War Stabilizes

Subscribe for Maritime Logistics Professional E‑News

MSCI's May revision includes India's Coromandel and Nykaa in the key index
Leasys, an auto leasing company, aims to double the fleet of its low-emission cars by 2026
Documents show that Venezuela has topped up its heavy naphtha stock ahead of the expiration date for licenses.