As Reuters reports, the Baltic Exchange’s main sea freight index reached its lowest level in April 2019, impacted by falling rates across the capesize and panamax segments.
Accordingly, the tracks rates concerning capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped 25 points, or 3.3%, to 729.
Specifically:
- The capesize index decreased by 119 points, or 16.7%, to 593 – its lowest since April 23. The index registered its 27th straight session of losses, and also its largest daily percentage loss since early April.
- Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, fell $592 to $7,760.
- Imported iron ore stocked at China’s ports declined for the third straight week, hitting 127.35 million tonnes on Friday, the lowest since the last week of September 2019.The panamax index lost 4 points, or 0.5%, to 866.
- Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined $39 to $7,791.
- The supramax index remained unchanged at 560 points.
Moreover, in late 2019, the Baltic Exchange issued its data concerning the freight derivatives markets for both tankers and dry cargo vessel, informing of an increase in trade volumes for 2019, in comparison with the previous years which experienced swings.
