The Baltic Exchange's dry bulk freight index fell to its lowest level in more than one month on Thursday, pressured by lower rates in the Capesize vessel segment.
The main Baltic index fell 42 points, or 1.5 per cent, to 2,729, its lowest since May 1.
The Capesize index was down 161 points, or 3.7 per cent, at 4,140. Average daily earnings for Capesize vessels fell $1,456 to $34,048.
Iron ore futures declined on Thursday, as shipments continued to mount amid weak steel demand in China, while investors also eyed the commotion surrounding the imposition of anti-dumping measures in Britain and India.
The Panamax index gained 40 points, or 1.8 per cent, to 2,251. Average daily earnings for Panamax vessels rose $358 to $20,255.
Among smaller vessels, the supramax index was up 15 points, or 0.9 per cent, at 1,633.
(Reporting by Anjana Anil in Bengaluru; Editing by Tasim Zahid)