Baltic Exchange's sea freight index fell by 55% due to weak demand in January

Posted on February 3, 2023   |  

The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, inched 1 point higher at 681 but the main index lost 55% for the month.

The capesize index lost 1 point at 532, its lowest in 5 months.

The index fell by 76.5% for the month, the worst since August 2022, and average daily earnings for capesizes, decreased from $7 to $4,411.

The panamax index fell 8 points to 1,052, down 31.5% for the month, and average daily earnings for panamaxes, decreased by $79 to $9,464.