The Baltic Exchange’s dry bulk index, which tracks freight rates for ships transporting dry commodities, fell about 7.1% on Tuesday to 1,919 points, its lowest level since February 10, after having risen nearly 3% the previous day. Persistent disruptions in the Strait of Hormuz continued to weigh on shipping activity and dampen freight demand.
The capesize index, reflecting rates for vessels that typically carry 150,000-ton cargoes such as iron ore and coal, tumbled 11.8% to 2,502 points. The panamax index, which covers ships that usually transport 60,000 to 70,000 tons of coal or grain, extended its decline, slipping 2.7% to 1,861 points. Among smaller vessel segments, the supramax index fell 2.3% to 1,342 points.
