Main sea freight index at Baltic Exchange declines to below 900 points

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities declined to below 900 points on Monday mainly due to lower cape, panamax and supramax indices.
The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes, measured on a time charter basis, down by another 19 points to 882 points on Monday.
According to Freight Investors Services, paper rates saw their biggest losses further out; with downside starting to hit all rates after recent gains. The turn lower is being attributed to some repositioning ahead of the end of the month. 
But, FIS noted that as lows were tested the paper market pulled higher, suggesting that there could be more upside in store for the BDI.