The Baltic Exchange's dry bulk freight index fell on Wednesday, pressured by declines in the Capesize and Panamax vessel segments.
The main Baltic index fell by 81 points, or 2.5 per cent, to 3,124.
The Capesize index was down 206 points, or 3.8 per cent, at 5,253. Average daily earnings for Capesize vessels fell $1,870 to $44,138.
Iron ore prices fell on Wednesday, dragged lower by thinning steel margins and seasonally weakening demand in top consumer China.
The Panamax index fell by 31 points to 2,290. Average daily earnings for Panamax vessels lost $282 to $20,607.
Among smaller vessels, the supramax index was up six points at 1,583.
(Reporting by Anjana Anil in Bengaluru)