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Dry bulk freight plunge continues

Dry bulk freight plunge continues
The dry bulk freight market continued to crumble on Monday led by capesizes.

Following its lowest week ever the Baltic Dry Index fell another 14 points on Monday to a new low of just 415 points.

The Baltic Capesize Index (BCI) lost 29 points to 420 and average spot TC rates fell $224 to $3,594. The Baltic Panamax Index (BPI) dipped 14 points to 420 with average spot TC rates of $3,361.

The Baltic Supramax Index (BSI) fared slightly better losing eight points to 422. Average spot TC rates for supramaxes are higher than either panamaxes or capesizes at $4,416.