# Baltic Index Inches Up Amid Virus Outbreak - Supply Chain Council of European Union | Scceu.org

> The Baltic Exchange's main sea freight index rose 1% to 425 on Friday, its first weekly gain in ten weeks, as panamax rates climbed 3.9% to 636. Capesize rates fell to a ninth consecutive weekly decline, with average daily earnings down $87 to $2,445. Brokers linked weak dry bulk demand to coronavirus disruption at Chinese mills and factories.

- Date: 2020-02-21 · published 2020-02-21T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/54785-baltic-index-inches-up-amid-virus-outbreak-supply-chain-council-of-european
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher panamax earnings signal firmer demand for vessels carrying grain and coal, which raises ocean freight costs for grain and feed ingredient shipments. The capesize weakness reflects lower Chinese raw material demand, which is a bearish signal for bulk freight overall.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- scceu.org: https://scceu.org/baltic-index-inches-up-amid-virus-outbreak/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.