The Handysize freight rate on the Cross-Med route dropped $0.20/mt to be assessed Tuesday at $10.13/mt, the lowest since June 26, 2012, when it reached $10.09/mt.
Shipbrokers continued to report weaker sentiment into Wednesday, pegging the rate at Worldscale 115, equivalent to $9.70/mt.
One shipowner said shipping operations were running smoothly due to good weather, with enough cargoes being supplied from the Black Sea to the Mediterranean.