Continuous Slide in Baltic Exchange Freight Index

baltic exchange

The Baltic Exchange’s primary index, which gauges global shipping costs, continued its downward trajectory for the ninth consecutive day on Tuesday. This saw the index dip by roughly 2.9%, reaching its lowest point since September 18th, standing at 1,459 points.

Segmental Declines: Capesize and Panamax

Furthermore, the capesize index, which monitors large ships carrying around 150,000-tonne loads like iron ore and coal, marked its ninth successive fall. This downturn is the most prolonged since May, registering a drop of 3.4% and settling at 2,020 points. In tandem, the panamax index, which focuses on ships transporting coal or grain weighing between 60,000 and 70,000 tonnes, observed a significant 2.6% decline, landing at 1,534 points. This reduction is notably the steepest in over two months.

Smaller Vessels Also Affected

Additionally, when looking at smaller ships, the supramax index also recorded a decrease, shrinking by 2.1% to a value of 1,135 points.