The Baltic Exchange's main sea freight index fell for the fourth-straight session on Thursday, hitting an over one-month low, because of dip in Capesize vessel rates.
The main index slipped 34 points, or 1.8 per cent, to 1,893 points, reaching its lowest level since July 15.
The Capesize index fell 164 points, or 5.7 per cent, to 2,703 points, its lowest point since July 16. Average daily earnings for Capesize vessels decreased by $1,360 to $22,418.
Iron ore futures rebounded as a mandated production cut ahead of a military parade in China seemed to be less severe and shorter than expected, allaying demand concerns.
Meanwhile, the Panamax index was up 54 points, or 3.2 per cent, at 1,719. Average daily earnings for Panamax vessels added $484 to $15,469.
Among smaller vessels, the supramax index gained 17 points, or 1.2 per cent, to 1,405.
(Reporting by Sarah Qureshi in Bengaluru; Editing by Sahal Muhammed)