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

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

Russian Oil Freight Rates to India Remain High

Russian Oil Freight Rates to India Remain High

EU Wheat Falls Further As Market Awaits Black Sea Diplomacy

EU Wheat Falls Further As Market Awaits Black Sea Diplomacy

Russia Ships More Than 10 Million Barrels of Crude to China Via Northern Sea Route

Russia Ships More Than 10 Million Barrels of Crude to China Via Northern Sea Route

Baltic Index Hits Almost Five-Year High

Baltic Index Hits Almost Five-Year High

Subscribe for Maritime Logistics Professional E‑News

Portugal asks Air France, KLM and Lufthansa to improve their offers for TAP sale
Air Tanzania will resume its flights to Russia from September 7, after a temporary halt
Chinese shipper COSCO denies that its vessels were spied on for Beijing