The Baltic Exchange's dry bulk freight index fell on Tuesday, pressured by lower rates across all vessel segments.
The main Baltic index slid 17 points, or 0.6 per cent to 2,667.
The Capesize index was down 28 points, or 0.7 per cent, at 4,046, its lowest since June 18.
Average daily earnings for Capesize vessels were down $252 at $33,192 as iron ore prices fell to multi-month lows on expectations of higher shipments from major suppliers ahead of the end of the second quarter and seasonally weaker steel demand.
The Panamax index fell 14 points, or 0.7 per cent, to 2,045. Average daily earnings for Panamax vessels fell $126 to $18,406.
Among smaller vessels, the supramax index was down 10 points, or 0.6 per cent, at 1,705.
(Reporting by Sumit Saha in Bengaluru; Editing by Diti Pujara)