Capesize rates have slid steadily over the past week amid coronavirus overhang and Asian and UK holidays.
The weighted time-charter equivalent (TCE) average for the large vessels dropped 37% from last Thursday to $4,858 per day, according to the Baltic Exchange Capesize Index.
The index was closed on Friday due to a European bank holiday.
"Capesize spot rates are under pressure in both the Atlantic and the Pacific," Cleaves Securities analyst Joakim Hannisdahl told TradeWinds.
