Capesize, Supramax Rates Fall! Baltic Index Slips by 1%

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  • Baltic index  fell 4 points, or 1%, to 411 on lower capesize, supramax vessel rates.
  • The panamax index rose 5 points, or 0.9%, to 546.

According to a Reuters report, capesize, supramax components of the Baltic Sea Freight Index declined on Monday, affected by weaker demand for capesize and supramax vessels outweighing stronger rates for the panamax category.

The developments

  • The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 4 points, or 1%, to 411.
  • The capesize index was down 20 points to a negative 254, down for the 42nd straight session.
  • Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, lost $72 to $2,588.
  • The panamax index rose 5 points, or 0.9%, to 546.
  • Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $42 to $4,913.
  • The supramax index fell 7 points to 484. 

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Source: Reuters

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