Atlantic MRs have taken a nosedive, losing more than $30,000 per day over the last week.

The Baltic Exchange Atlantic basin time charter equivalent assessment fell $6,523 to $38,060 per day on Friday. This capped a week that started at $68,692 per day, bringing a decline of nearly 45%.

“The USG MR market abruptly stopped and took a major correction down this week,” the Baltic Exchange said in its weekly note.