It is reported that, Cape of Good Hope bulk cargo market continued in a downward trend, the price fell 9.2% on Monday.

Currently Capesize bulk carriers, the average spot rent amount fell $1024, fell to $10085 / day, has almost reached the early August rent half the level of the market average rent amount. And the Baltic Cape of Good Hope type bulk cargo ship freight index fell 156 points, fell to 1403 points.

At the same time, Baltic Dry Index (BDI) on August 5 on the highest point of the year 1222 after, recently re fell 1000 points below. On Monday, the BDI index fell 26 points to 968 points.

With the global economic turmoil and China's economic growth slowed, dry bulk market continued to be in a downward trend.

Last Friday, BIMCO analyst Sand Peter has warned that due to the slowdown in China's steel production, the world's crude steel production in the first 7 months of this year fell by 2.1%, to 9.458 tons. In the global steel production, China's output accounted for 50%.

Analysts pointed out that China's crude steel production is the first decline since 1981. As iron ore imports are key drivers of the Chinese market, this has a considerable impact on the bulk carriers and operators.

China is expected to import 9.6 tonnes of iron ore in 2015 this year, the global seaborne iron ore exports is expected to be 14.2 tons.