Baltic Index at One-week Trough as Demand Sags

Maritime Activity Reports, Inc.

October 16, 2019

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

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

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, rose $174 to $25,838.

Separately, China's top steelmaking city of Tangshan, in Hebei province, has issued a second-level smog alert on Tuesday that requires steel mills to limit certain operations.

The panamax index declined 30 points, or 1.6%, to 1,888, recordings its worst day this month. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonne to 70,000 tonne, dropped $244 to $15,132.

The supramax index nudged lower by a point to 1,226.

Reporting by Nakul Iyer

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