The Baltic Exchange's dry bulk freight index edged marginally lower on Tuesday, with losses in Panamax and supramax vessels mostly offsetting a rebound in the Capesize segment.
The main Baltic index fell one point, or 0.04 per cent, to 2,670, registering its smallest decline in the current downturn, as gains in the Capesize segment limited losses.
The Capesize index rose 41 points, or 1.1 per cent, to 3,930, its first gain since July 14. Average daily earnings for Capesize vessels gained $369 to $32,137.
However, iron ore futures prices fell alongside steeper declines in coking coal and coke, as a rebound in Chinese port arrivals following the clearing of Typhoon Bavi-related congestion added to concerns over swelling inventories.
The Panamax index was down by 46 points, or 2.1 per cent, at 2,181. Average daily earnings for Panamax vessels fell $416 to $19,629.
Among smaller vessels, the supramax index was down eight points, or 0.5 per cent, at 1,730, its first decline since early July.
(Reporting by Vedika Thorat in Bengaluru; Editing by Tasim Zahid)