The Baltic Exchange's dry bulk freight index fell on Friday, hurt by weaker rates in its Capesize segment, but headed for a weekly gain.
The main Baltic index fell 47 points, or 1.3 per cent, to 3,426 points. However, the index was up 1.6 per cent for the week.
The Capesize index fell 155 points, or 2.6 per cent, to 5,784 points. It was on track for a weekly rise of 0.3 per cent.
Average daily earnings for Capesize vessels decreased by $1,407 to $48,954.
Iron ore futures were little changed as rising inventories and deepening losses at steel mills in top buyer China countered some support from expectations of reduced shipments from Brazil.
Meanwhile, the Panamax index rose 25 points, or 1.05 per cent, to 2,407 points, and was headed for a weekly rise of nearly seven per cent.
Average daily earnings for Panamax vessels rose $228 to $21,662.
Among smaller vessels, the supramax index inched up four points, or 0.2 per cent, to 1,786. The index recorded a weekly gain of 1.1 per cent.
(Reporting by Katha Kalia in Bengaluru; Editing by Diti Pujara)