Baltic Index falls to Six-Week low as Capesize Rates dip

LONDON : The Baltic Exchange’s Dry Bulk Sea Freight Index on Wednesday slipped to a six-week low as rates for capesize vessels dipped.

The main index, which tracks rates for capesize, panamax and supramax shipping vessels, dropped 22 points, or 1.7%, to 1,241, its lowest level since March 5.

The capesize index fell to a near seven-week low, shedding 97 points, or 5.5%, to 1,656.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, was down $801 at $13,734.

Tariff tensions between the U.S. and China have disrupted U.S. coal exports, particularly metallurgical coal, forcing producers to seek new markets, while China turns to existing suppliers to fill the gap left by the 10.7 million tons of U.S. coal exported in 2024, Intermodal said in a note dated Tuesday.

Meanwhile, the panamax index (.BPNI) marked a one-week high, gaining 30 points to 1,238.

Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, increased $265 to $11,138.

Among smaller vessels, the supramax index (.BSIS) added six points, or 0.6%, to 943.

Source: Reuters