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Tuesday, February 18, 2020

Baltic Exchange News

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Baltic Index Falls

The Baltic Exchange's main sea freight index declined on Friday as lower rates for capesize and supramax segments offset gains in the panamax category.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, dropped 16 points, or 3.7%, to 415.The main index has lost nearly 14.8% this week, its ninth consecutive week of decline.The capesize index fell 47 points to a negative 234, down for the 41st straight session.Average daily earnings for capesizes…

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Capesize Index Turns Negative for the First Time Ever

Capesize index plummets to -133, the first time ever in negative territory – is it all up from here?The Baltic Exchange Capesize Index (BCI) dropped to -133 index points on February 4, 2020, turning negative for the first time ever on January 31, 2020. The composite BDI index (BDI), which has excluded the more stable handysize segment since March 2018, also dropped on February 4, 2020 to settle at 453 index points.The BCI has been on a freefall through the entirety of December, but the descent started to pick up more steam during the past couple of weeks.

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Capesize Index Marks Biggest Weekly Loss in 21 Years

The Baltic Exchange's main sea freight index fell to an over three year low on Friday, with the capesize segment marking its biggest weekly loss since March 1999.The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 19 points, or 3.3%, to 557 — lowest since April 2016.The index has lost more than 26% this week, registering its biggest weekly percentage loss in nearly a year.The capesize index fell 42 points, or 20.3%…

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Baltic Index Slips to 9-Month Low

The Baltic Exchange's main sea freight index fell to its lowest level since early April last year on Tuesday, weighed down by weaker demand for vessels across all segments.The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 40 points, or 5.5%, to 689 - its lowest since April 3, 2019.The capesize index declined 98 points, or 16.5%, to 495.The capesize index registered its 28th straight session of losses, and is at its lowest level in nine months.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne c

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Baltic Index Falls to 8-Month Low

The Baltic Exchange's main sea freight index fell to its lowest level since April on Monday, weighed down by weaker vessel demand across all segments.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, declined 63 points, or 6.9%, to 844 points, its lowest level since April 23.* The capesize index fell 119 points, or 7.9% to 1,388 - its lowest since May 10.* Average daily earnings for capesizes, which typically transport 170…

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First LNG FFA Trades via CME Group

Affinity (Shipping) LLP, a shipbroker, said this week in a statement it had facilitated the first trades in CME Group's liquefied natural gas (LNG) freight futures contracts.The trades involved French energy major Total and commodities trader Trafigura and were submitted for clearing using CME Group's ClearPort system, Affinity saidEarlier in December, CME Group said it would be the first futures exchange to launch trading of three LNG freight futures contracts in response to growing demand for hedging tools on the LNG market"Since we arranged the initial bilateral LNG forward freight agreemen

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Baltic Index Falls for 13th Straight Session

The Baltic Exchange's main sea freight index declined for a 13th straight session on Friday, weighed down by declining rates across all vessel categories.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, decreased 28 points, or 2.4%, to 1,123, its lowest in over six months. The index has lost over 17% in the week.The capesize index dropped 18 points, or 0.9%, to 1,958 — its lowest since June 18. The index fell over 20% this week, marking its third straight weekly fall.

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Baltic Index Continues to Sink

The Baltic Exchange's main sea freight index slid for a 12th straight session on Thursday, hitting a six-month low, as reduced seasonal demand dragged down vessel rates across segments.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 70 points, or 5.7%, to 1,151 — its lowest level since June 19.* The capesize index declined 127 points, or 6%, to 1,976 — the lowest in over six months.* Average daily earnings for capesizes…

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Baltic Index Sags Again on Weak Capesize Demand

The Baltic Exchange's main sea freight index fell for a tenth-straight session on Tuesday, as capesize vessel rates hovered near a six-month low.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 34 points, or 2.6%, to 1,281, its lowest since Nov. 21.The capesize index slid 94 points, or 4.0%, to 2,240, its lowest level since June 20. Average daily earnings for capesizes, which typically transport 170,000-180…

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Baltic Index Sags for 5th Consecutive Session

The Baltic Exchange's main sea freight index fell for a fifth straight session on Tuesday, weighed down by softer demand for capesize vessels.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 23 points, or 1.5%, to 1,528 points.The capesize index fell 75 points, or 2.3%, to 3,167 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, dropped $793 to $22…

AdobeStock / © Lucasz Z

Baltic Index Up for Seventh-Straight Session

The Baltic Exchange's main sea freight index rose for a seventh consecutive session, helped by growing demand for ships across vessel segments.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 40 points, or 2.6%, to 1,568 points, its highest since Nov. 5.The capesize index rose 100 points, or 3.2%, to its highest since mid-Oct at 3,231 points. Average daily earnings for capesizes, which typically transport 170…

File Image (CREDIT: K Line)

Stronger Demand Bolsters Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched up on Wednesday, helped by stronger demand across all vessel segments.The Baltic index, which tracks rates for capesize, panamax and supramax vessels, rose 14 points, or nearly 1%, to 1,440 points, after registering its biggest one-day percentage gain in four-and-a-half months on Tuesday. The capesize index jumped 30 points, or 1%, to 2,983.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $193 to $22,465.

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Baltic Index Logs Best Day Since July on Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, on Monday recorded its biggest daily percentage jump in more than four-and-a-half months, buoyed by a surge in capesize rates.The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, climbed 67 points, or 5.2%, to 1,351 points. The index posted its biggest daily percentage gain since July 4.The capesize index rose 223 points, or nearly 9%, to 2,716, also registering its biggest percentage rise since July 4.

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Baltic Index Snaps Losing Streak

The Baltic Exchange's main sea freight index on Friday rose for the first time in seven sessions, helped by an uptick in capesize rates.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 29 points, or 2.3%, to 1,284 points.* For the week, however, the index recorded its sixth straight fall, declining by 5.4%.* The capesize index rose 92 points, or 3.8%, to 2,493, but still shed 5.4% in the week, its fifth fall…

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Baltic Index Drops On Capesize Rates

The Baltic Exchange's main sea freight index ticked lower for a sixth straight session on Thursday, hurt by weaker demand for capesize vessels.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 5 points, or 0.4%, at 1,255 points.* The capesize index fell 34 points, or 1.4%, to 2,401 points, it's lowest since June 18.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

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Baltic Index Records Fifth Straight Fall

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, dipped for a fifth successive session on Wednesday, weighed down by weaker capesize vessel rates.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down by 44 points, or 3.4%, to 1,260.The capesize index dropped 108 points, or 4.3%, to 2,435 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

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Baltic Index Down for 9th Session in a Row

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a ninth straight session on Friday, on weaker demand for capesize and panamax vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.5%, to 1,378. The index was down 18.8% for the week, its biggest weekly decline since February.The capesize index was down by 73 points, or 2.9%, to 2,444, its lowest since June 26. The index was down 17.2% for the week, marking its fourth weekly decline.

AdobeStock / © Lucasz Z

Baltic Index at 4-month Low on Weak Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a four-month low on Monday, weighed down by easing rates across vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 22 points, or 1.3%, to 1,675, its lowest since July 3.The capesize index dropped 4 points, or 0.1% to 2,946 points, its lowest in more than a week. Average daily earnings for capesizes, which typically transport 170…

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Baltic Index Slips to Near 4-Month Low

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a near 4-month low on Friday as rates fell across vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 34 points, or 1.96%, to 1,697, its lowest since July 3. The index posted its seventh weekly loss in eight.The capesize index was down by 28 points, or 0.94% at 2,950 points. Average daily earnings for capesizes, which typically transport 170…

Peter Sand, chief shipping analyst at BIMCO

Baltic Index Inches Lower on Weaker Panamax Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched lower on Wednesday on weaker demand for panamax vessels.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, edged down by 20 points, or 1.1%, to 1,782.The capesize index was unchanged at 3,078 points. Limited activity in both the Atlantic and Pacific basins and the resistance of charterers to current freight rates led to lower market rates, while some fresh inquiries in the Atlantic helped curb losses, Allied Shipbroking said in a note on Tuesday.

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Baltic Index Snaps 9-Session Losing Streak

The Baltic Exchange's main sea freight index edged up on Thursday, ending a nine-session losing streak, on higher demand for capesize vessels.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, inched up 6 points, or 0.3%, to 1,785.The capesize index gained for the first time in 10 sessions, as it rose 53 points, or 1.8%, to 2,926. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, increased by $372 to $24,112.The panamax index fell 22 points, or 1.2%, to 1,748.

File Image / AdobeStock / © Volodymyr Kyrylyuk

Waning Demand Across All Sectors Drags on Baltic Index

The Baltic Exchange's main sea freight index fell for a ninth straight session on Wednesday to a two-week low, hurt by weaker demand across vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 27 points, or 1.5%, to 1,779, its lowest in over two weeks.The capesize index slipped 71 points, or 2.4%, to 2,873, its lowest in more than three months. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $463 to $23,740.The panamax index dropped 25 points, or 1.4%, to 1,770.

AdobeStock / Credit © Lidian Neeleman

Baltic Index Sags as Rates Slip

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses for a sixth consecutive session on Friday, on weak demand across all vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 6 points, or 0.3%, to 1,855. The overall index posted its fifth weekly loss in six, closing 3.6% lower.The capesize index was down by 17 points, or 0.6%, at 3,064, falling for a sixth straight session.

File Image: A recently delivered K Line Coal Carrier. CREDIT: K Line

Baltic Index at One-week Trough as Demand Sags

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Wednesday, on weaker demand for all vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point at 1,897, extending losses to a fourth session.The capesize index fell 10 points, or 0.3%, to 3,194. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

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Baltic Index Dips for a Straight Third Session

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a third consecutive session on Tuesday, due to lower demand for larger capesize and panamax vessels.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 18 points, or 0.9%, to 1,898.* The capesize index dropped 50 points, or 1.5%, to 3,204.* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

AdobeStock / © Lucasz Z

Baltic Index Slips on Lower Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged lower on Friday, weighed down by lower capesize vessel rates, while the main index posted its first weekly rise in five.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 5 points, or 0.26%, to 1,924.The capesize index dropped 29 points, or 0.87%, to 3,290, while the index recorded its first gain in five weeks. The average daily earnings for capesizes…