July End Baltic Index Dips As Panamax Rates Slide

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According to an article published in MarineLink, the Baltic Exchange’s main sea freight index fell to a more than two-week low.

Weaker rates for Panamax vessels

  • The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.8%, or 15 points, to 1,922 points, its lowest since July 12.
  • Nevertheless, the Capesize index rose 13 points, or 0.4%, to 3,660 points.
  • Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $72 to $27,217.

Decrease in Panamax index

  • The panamax index fell 59 points, or nearly 3%, to its lowest in two weeks at 2,050 points.
  • Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $470 to $16,399.
  • The supramax index fell 9 points to 996 points.

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Source: MarineLink

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