Recent drop in drybulk rates seen as 'normal'

Drybulk rates have fallen steadily for more than a week but analysts seem none too worried.

The Baltic Exchange Dry Index has slipped 8% from a recent peak of 2518 on 4 September that marked the first time past 2500 since November 2010.

Meanwhile, capesize rates, which often set drybulk shipping's rate environment, have declined 11% from a high of $38,014 per day, according to the exchange's Capesize Index.