The Baltic Exchange’s dry bulk index, which measures freight rates for ships transporting dry commodities, climbed for a third consecutive session on Tuesday, gaining 2.5% to 2,242 points—its highest level since December 11. The rally was driven by broad-based increases across all vessel segments.
The advance comes in the wake of disruptions linked to the escalating conflict involving Iran, which has effectively shut down traffic through the Strait of Hormuz and forced vessels onto longer alternative routes. As carriers adjust their paths, freight costs have jumped sharply, while some insurers have withdrawn coverage, adding further strain to global shipping markets.
The capesize index, which tracks larger vessels typically carrying 150,000-ton cargoes such as iron ore and coal, surged 3.6% to 3,245 points, the highest level in about a month. The panamax index, covering ships that usually transport 60,000 to 70,000 tons of coal or grain, advanced 1.2% to 2,002 points, its strongest reading since last September. Among the smaller vessel classes, the supramax index rose 1.6% to 1,383 points.
