SIMIC

The overall index fell 55 points, or 2.6 per cent, to 2,043 points, its lowest since April 12.

The capesize index dropped 84 points, or four per cent, to 2,000 points, its lowest since April 22.

Average daily earnings for capesizes fell US$695 to $16,588.

The rail line delivering coal to the world's biggest coal export port in Newcastle, Australia was recently shut down due to heavy rainfall and is expected to reopen within the next 48 hours.

Meanwhile, iron ore slumped to its lowest level this year in Singapore as China faces another Covid lockdown.

The panamax index fell for the 12th straight session, dropping 78 points, or 3.2 per cent, to a near five-month low of 2,363 points.

Average daily earnings for panamaxes decreased $695 to $21,270.

The supramax index fell 18 points to 2,247 points, heading into the tenth straight day of points falling.