The Baltic Exchange's dry bulk freight index fell to a near one-month low on Tuesday, pressured by weaker rates across larger vessel categories.
The main Baltic index fell 90 points, or 2.75 per cent, to 3,178 points, its lowest level since September 1.
The Capesize index dropped 248 points, or 4.63 per cent, to 5,103 points, its lowest since August 26.
Average daily earnings for Capesize vessels decreased by $2,249 to $42,775.
Iron ore futures fell for a third straight session on Tuesday, weighed down by rising port arrivals and persistently weak steel demand as the market heads into China's National Day holidays.
The Panamax index shed 12 points, or 0.50 per cent, to 2,390 points.
Average daily earnings for Panamax vessels fell by $113 to $21,507.
Among smaller vessels, the supramax index inched up seven points, or 0.39 per cent, to 1,797 points, touching its highest level since August 2022.
(Reporting by Vedika Thorat in Bengaluru; Editing by Diti Pujara)