The Baltic Exchange's estimate of daily earnings for capesize bulkers in the spot market has fallen by almost $1,000 since Tuesday.
The weighted time charter average for capesizes on the Baltic's five main benchmark routes were assessed $956 lower at $5,301 per day, according to Wednesday's assessment.
The assessment has fallen by 23% over the past seven days and, at this level, capesizes are earning just $300 more than the Baltic's estimated break-even rate.
