August 2008 saw a distinct tendency to a decline in the market of bulk tonnage. Baltic Freight Index for Panamax vessels fell by 1220 points (–16.3%), Super Handymax – by 638 points (–13.2%) and Handysize – by 381 points (–15.0%). The decrease of freight rates indexes touched, though unequally, all the sectors and directions of dry bulk transportation