The overall index, which factors in rates for
capesize, panamax and supramax shipping vessels, fell by 144 points, or 7.2%,
to 1,845 points, its lowest since Feb. 22.
The capesize index lost 326 points, or 11%, at 2,638,
down for the seventh straight session.
Average daily earnings for capesize vessels, which
typically transports 150,000-ton cargoes such as iron ore and coal, decreased
by $2,705 to $21,875.
The
panamax index, fell by 103 points or 5%, at 1,941 points, hitting it lowest
level in over two weeks. Average daily
earnings for panamax vessels, which usually carries about 60,000-70,000 tons of
coal or grain cargo, fell $922 at $17,470.
Among smaller vessels, the supramax index .BSIS edged
down to 1,353 points.
Baltimore’s Francis Scott Key Bridge collapsed on Tuesday after a container ship smashed
into a pylon with the disaster forcing the indefinite closure of the Port of
Baltimore, one of the busiest on the U.S. Eastern Seaboard.
With
the suspension of traffic at Port of Baltimore, “overall it appears the market impact on container
shipping and dry bulk will be relatively muted though at the margin this
disruption does have some tightening effect,” Jefferies analysts wrote in a note.