Baltic index worst month since January 2020

Chamber of Shipping > Blog > News > International > Baltic index worst month since January 2020

The Baltic Exchange’s dry bulk sea freight index dropped on Friday, registering its biggest monthly percentage fall since January 2020, dragged down by a decline in rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell 111 points, or 3.1%, to 3,519, its lowest since Aug. 12. The index fell more than 30% this month and was down 20.2% this week. Concerns over the health of the Chinese economy have led to a sharp decline in the dry bulk sector, which was already “exasperated due to the (China) Evergrande situation,” Alibra Shipping London said. The brokerage, however, added that the outlook for the sector remained firm due to high demand for commodities.

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