Supply Chain Council of European Union | Scceu.org
Transportation

Baltic index touches 4-1/2 month low on sluggish vessel demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a more than four-and-a-half month low on Monday, hurt by weaker rates across all vessel segments.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 19 points or 1.4%, to 1,338, its lowest since June 26.

* The capesize index fell 32 points, or 1.21%, to 2,603 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased by $340 to $20,630.

* The panamax index inched lower by 6 points, or 0.5% to 1,112 points. extending losses for a 25th straight session, marking its biggest losing streak in over 9 months.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $48 to $8,924.

* The supramax index shed 12 points to 723. (Reporting by Nakul Iyer in Bengaluru)

Related posts

In pandemic time local shippers added 32 vessels to fleet

scceu

LTI, Inc., Lynden Transport receive SmartWay Awards from EPA

scceu

For Freight’s Sake: Advice for new freight brokers and investors

scceu