rss icon Subscribe
desktop mobile

Baltic Index at One-week Trough as Demand Sags

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

Oct 16, 2019

 

Contracts

Great Lakes Wins Dredging Contracts Worth More than $50 Mln

(Image: Great Lakes Dredge & Dock Corporation)

The United States' largest dredging services provider Great Lakes Dredge & Dock Corporation on

Vigor Wins $133 Mln US Navy Repair Job

File photo: Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) (U.S. Navy photo Paul Kelly)

Vigor Marine has been awarded a $133,406,869 firm-fixed-price contract to prepare for and

Elbit Systems Wins $53 Mln Navy Contract

(Photo: Elbit Systems)

Elbit Systems announced Wednesday it has been awarded a contract valued at approximately $53

Ports

Spring Oil Flood Causes Summer Queues in Chinese Ports

© Igor Groshev / Adobe Stock

Chinese ports are struggling to unload record volumes of crude with storage tanks full after the

Brazil on a Grain Exporting Spree

© chutima / Adobe Stock

Brazil is expected to export 11.9 million tonnes of soybeans in June, a 37% rise from the same

CMA CGM to Impose Emergency Surcharge at Cape Town Port

© Tupungato / Adobe Stock

CMA CGM, the world's fourth-largest container shipping line, will impose emergency congestion

Maritime Apps