The Baltic Exchange's dry bulk freight index fell on Wednesday, pressured by lower rates in the Capesize segment.
The main Baltic index fell 47 points, or 1.7 per cent, to 2,771.
The Capesize index was down 140 points, or 3.2 per cent, at 4,301. Average daily earnings for Capesize vessels fell $1,267 to $35,504.
Iron ore futures snapped a five-session losing streak on Wednesday on the back of positive monthly trade data from China, as higher steel exports buoyed sentiment, while lower iron ore imports supported prices.
The Panamax index gained six points, or 0.3 per cent, to 2,211. Average daily earnings for Panamax vessels rose $51 to $19,897.
Among smaller vessels, the supramax index was up four points, or 0.3 per cent, at 1,618.
(Reporting by Pranav Mathur; Editing by Jonathan Ananda)