The capesize bulker market continued to plummet over the past week as demand and port congestion eased, while the smaller-ship sector kept its keel above water by comparison.

The Baltic Exchange’s Capesize 5TC, a spot-rate average across five key routes, cascaded 42.5% during the seven-day period to $7,188 per day on Friday, reaching its lowest level in almost seven months.

The capesize market has endured this downward trend since mid-July when average spot rates topped $24,000 per day, thanks to China’s weak real-estate sector hitting iron-ore demand and lower congestion boosting supply.