The Baltic Exchange's dry bulk sea freight index fell on Monday, pressured by declining rates across all vessel segments.
The main index fell 39 points to 2,220 points.
The Capesize index dropped 103 points to 3,524 points. Average daily earnings for Capesize vessels decreased by $848 to $29,228.
Iron ore futures prices declined on Monday, pressured by sluggish steel demand and mounting inventories at Chinese ports.
The Panamax index lost 14 points to 1,818 points. Average daily earnings for Panamax vessels fell by $126 to $16,358.
Among smaller vessels, the supramax index was down one point at 1,478 points, its lowest since September 9.
(Reporting by Pablo Sinha in Bengaluru; Editing by Leroy Leo)