The dry bulk freight market continued to crumble on Monday led by capesizes.

Following its lowest week ever the Baltic Dry Index fell another 14 points on Monday to a new low of just 415 points.

The Baltic Capesize Index (BCI) lost 29 points to 420 and average spot TC rates fell $224 to $3,594. The Baltic Panamax Index (BPI) dipped 14 points to 420 with average spot TC rates of $3,361.

The Baltic Supramax Index (BSI) fared slightly better losing eight points to 422. Average spot TC rates for supramaxes are higher than either panamaxes or capesizes at $4,416.