The Baltic Dry Index has also fallen every day so far in 2016.
The Baltic Dry Index Friday dropped another 10 points to a new historic low of 373.
The sector's key barometer has now fallen to a new record low for the past nine consecutive sessions.
The index has also fallen every day so far in 2016.
It was a particularly bad day for the Cape Index, which fell 27 points to 198.
On Thursday, average spot TC rates fell to $2,798 per day for capesizes, $3,049 per day for Panamax, and $4,125 per day for Supramax.
Yesterday Adrian Tolson, Senior Partner at 20|20 Marine Energy told Ship & Bunker that "providing credit to dry bulk so they can buy bunkers is just getting incredibly difficult now."