rss icon Subscribe
desktop mobile

Baltic Index Drops

© Björn Wylezich / Adobe Stock

Posted by Michelle Howard

The Baltic Exchange's main sea freight index dropped nearly 2 percent on Wednesday, weighed down by lower rates for capesize vessels ahead of a week-long Lunar Year break in China starting Thursday.
  • The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 19 points, or 1.71 percent, at 1,095 points.
  • Despite the Lunar New Year and the fact that the effects of the traditional slowdown are already visible, the Baltic index signals a positive period from March if the pattern of previous years repeats itself, shipbroker Intermodal said in a note.
  • The capesize index fell 72 points, or 4.02 percent, to 1,721 points.
  • Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $762 at $13,313.
  • The panamax index was up for the first time in 13 sessions and climbed 3 points, or 0.24 percent, to 1,231 points.
  • Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $29 to $9,885.
  • Among smaller vessels, the supramax index rose 6 points to 823 points, while the handysize index fell 2 points to 516 points.
Reporting by Vijaykumar Vedala in Bengaluru

Feb 14, 2018

 

Bulk Carriers

Diana Shipping TC Contract for M/V Coronis

Coronis. Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a

Blockchain Benefits Still Murky for Most Commodities Trading

© Riza / Adobe Stock

Commodity firms and banks have been diving into blockchain pilot schemes over the last two years

Another Ship Carrying US Soybeans Enters Dalian Port

© Benjamin Marfil / MarineTraffic.com

A vessel carrying U.S. soybeans entered China's port of Dalian after sitting off coast since July

Logistics

Seattle/Tacoma Box Volumes Rise in July

(Photo: The Northwest Seaport Alliance)

The marine cargo operating partnership of the ports of Seattle and Tacoma recorded its best July

Japan, Russia Join for Trans-Siberian Rail Transportation

Lines of the Trans-Siberian Railway, from Library of Congress at loc.gov.

Japan and Russia plan to officially develop a freight transport route between the two countries

Container Shipping Bankruptcy Lends Insight on Potential Fallout from Trade War

© MAGNIFIER / Adobe Stock

Global trade tensions have captured headlines in recent months, as the imposition of a series of

Maritime Apps