Baltic Index Falls, Vessel Rates Drop

Maritime Activity Reports, Inc.

December 23, 2019

© Mariusz / Adobe Stock

© Mariusz / Adobe Stock

The Baltic Exchange's main sea freight index continued its losing streak on Monday, falling to its lowest in more than six months as demand across vessel segments dropped.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell 20 points, or 1.8%, to 1,103, its lowest since June 17.

* The main index was down for a fourteenth-straight session.

* The capesize index dipped 4 points, to 1,954 — its lowest in more than six months.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, slid $85 to $14,366.

* The panamax index dropped 47 points, or 3.9%, to 1,154, its lowest since Nov. 27.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $384 to $9,228.

* The supramax index fell 15 points to 728. 

(Reporting by Shreyansi Singh in Bengaluru; Editing by Vinay Dwivedi)

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