The dry bulk sector saw a week of declines for the most part amid ongoing coronavirus jitters and negative sentiment.
The across-the-board downward trend was mostly driven by weak global demand, Jefferies analyst Randy Giveans said.
"Expect more of the same until large economies start to recover," he told TradeWinds Friday.
Noble Capital Markets analyst Poe Fratt expects rates to weaken for as long as the virus keeps spreading.
