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

The 'Grande Halifax' Christened in Halifax

From left, Andy Abbott CEO of ACL, Karen Oldfield and Costantino Baldissara. Photo:  Hafen Hamburg Marketing

The Pure Car & Truck Carrier Grande Halifax, owned and operated by the Grimaldi Group

Eniram Signs On LNG Powered Bulk Carrier Project

(Image: Arista Shipping)

The Project Forward initiative, which is led by Athens-based Arista Shipping, has produced an

ADM CFO: Supply Chain Can be Managed Through U.S.-China Trade Tensions

File Image (CREDIT: AdobeStock / © Igor Strukov)

Global grain merchant Archer Daniels Midland Co (ADM)feels it can manage its supply chain to adapt

Logistics

IMO Promotes Single Window for Ports

Photo:  International Maritime Organization (IMO)

What is a “single window” and why do ports need one? What are the best practices when it comes to

ESPO Congratulates Seven Wadden Sea Ports for PERS

Photo: ESPO

European Sea Ports Organisation (ESPO) congratulates the ports of Den Helder (Netherlands)

Nolan Tapped to Take Over as TOTE CEO

Tim Nolan (Photo: TOTE)

Tim Nolan has been named the next president and CEO of U.S. domestic ocean carrier TOTE Inc.

Maritime Apps