Baltic Index Falls, Posts Second-Straight Yearly Decline

The Baltic Exchange's main sea freight index fell to a six-month low on Tuesday, falling for a fifteenth-straight session and posting its second-consecutive yearly decline as vessel demand remained weak.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell 13 points, or 1.2%, to 1,090, its lowest since June 14.

* The index has fallen about 14.2% this year.

* The capesize index dipped 4 points to 1,950 — its lowest since June 17.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, slid $29 to $14,337.

* The index is up 2.4% this year.

* The panamax index dropped 37 points, or 3.2%, to 1,117 — its lowest since Nov. 26.

* The index posted its first annual decline in four years, falling about 21.4%.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $305 to $8,923.

* The supramax index fell 10 points to 718, losing more than 26% this year.

* Spot indices will not be published until Jan. 2, 2020, according to the Baltic website https://thebalticbriefing.com/member-news/baltic-non-publishing-dates-during-the-christmas-period. 

(Reporting by Shreyansi Singh in Bengaluru; Editing by Vinay Dwivedi)