The Baltic Exchange's dry bulk sea freight index fell to a more than two-week low on Monday, pressured by losses across all vessel segments.
The main index fell 15 points, or 0.8 per cent, to 1,976 points, its lowest since October 10.
The Capesize index fell for its fourth straight session, losing 33 points, or 1.2 per cent, to 2,838 points. Average daily earnings for Capesize vessels decreased by $277 to $23,534.
Iron ore futures prices climbed on Monday to their highest in nearly two weeks, as optimism over easing trade tensions between China and the United States, the world's two largest economies, outweighed demand concerns in top consumer China.
US President Donald Trump is set to meet President Xi Jinping in South Korea on Thursday, where fees imposed on port calls by China and the US on each other is set to be a major talking point.
Meanwhile, the Panamax index snapped a 14-day winning streak, losing three points, or 0.2 per cent, to 1,921 points. Average daily earnings for Panamax vessels fell by $26 to $17,292.
Among smaller vessels, the supramax index lost eight points to 1,361 points.
(Reporting by Pablo Sinha in Bengaluru; Editing by Vijay Kishore)