Weakening bulker markets have pushed the Baltic Dry Index (BDI) to below 2,000 points for the first time in five months.
The index, which indicates the overall strength of bulker markets, fell by 62 points on to 1,945 on Thursday.
The BDI has not been at levels below 2,000 since mid-February, when the index was dragged down by seasonally weak spot earnings in the capesize market.