Baltic Index Retreats as Capesize Rates Drop

Diptendu Lahiri

August 28, 2020

©Alexey Lesik / Adobe Stock

©Alexey Lesik / Adobe Stock

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, Panamax and supramax vessels, shed 16 points, or 1.1%, at 1,488.

The index registered a small 0.5% weekly gain. The capesize index fell 46 points, or 2%, to 2,218. However, the capesize index registered a 2.7% weekly gain.

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $381 to $18,394.

The panamax index edged down 2 points to 1,617, falling for a tenth consecutive session.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, was down $19 at $14,549.

The supramax index was flat at 958. 

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Ramakrishnan M.)