Join our crew and become one of the 107,364 members that receive our newsletter.

bulk carrier ballast water

File Photo: By sunsinger / Shutterstock

Baltic Dry Index Marks Fourth Consecutive Weekly Drop

Reuters
Total Views: 664
January 27, 2023
Reuters

Jan 27 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its fourth consecutive weekly fall on Friday as capesize demand remained numb.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down one point to 676, levels last seen during June 2020. The index was down 11.4% for the week.

* The capesize index lost 15 points, or about 2.7%, at 534, a near five-month low. It was down 32% for the week, also a fourth consecutive weekly fall.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $118 to $4,433.

* The panamax index was up nine points, or about 0.9%, at 1,054. However, it edged down 0.6% on its second consecutive weekly drop.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose by $78 to $9,487.

* Among smaller vessels, the supramax index rose five points to 650.

(Reporting by Harshit Verma in Bengaluru; Editing by Krishna Chandra Eluri)

(c) Copyright Thomson Reuters 2023.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 107,364 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.