Baltic Index Edges Lower as Capesize Rates Slip

Maritime Activity Reports, Inc.

October 14, 2019

© Igor Groshev / Adobe Stock

© Igor Groshev / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched lower on Monday on weaker capesize vessel rates.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 8 points, or 0.4%, to 1,916.

* The capesize index dropped 36 points, or 1.1%, to 3,254.

* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $317 to $26,065.

* The panamax index gained 12 points, or 0.6%, to 1,928, posting its seventh consecutive gain.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $100 to $15,455.

* The supramax index was up 5 points at 1,223. 

(Reporting by Nakul Iyer in Bengaluru)

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News