The Baltic Exchange's dry bulk freight index extended losses on Tuesday as Capesize and supramax segments fell, while the Panamax index rose for a tenth straight session to its highest in more than two months.
The main Baltic index was down 37 points, or 1.2 per cent, at 3,046. It had hit its highest level since June 3 on Friday.
The Capesize index lost 104 points, or two per cent, to 5,001. Average daily earnings for Capesize vessels fell $941 to $41,856.
Iron ore futures rose, supported by tighter short-term supply and firmer freight costs as oil prices held near one-week highs.
The Panamax index was up six points, or 0.3 per cent, at 2,312, hitting its highest level since June 2. Average daily earnings for Panamax vessels rose $58 to $20,813.
Among smaller vessels, the supramax index was down three points, or 0.2 per cent, at 1,600, falling to its lowest since June 8.
(Reporting by Dharna Bafna in Bengaluru; Editing by Sahal Muhammed)