The benchmark index plunged by 38 points, or 3%, to 1,235. It was the lowest level since late February.
The Baltic Panamax Index lost 31 points, or 3.5%, to close the day at 836. Larger bulkers also seemed to struggle with the Baltic Capesize Index closing at 2,343, which was a drop of 75 points, or 3.1%.
The panamax sector has been suffering from an excess of available tonnage in the Atlantic and delays or cancellations of South American grain export shipments to China.
“The
