The Baltic Exchange's dry bulk freight index fell on Wednesday hurt by weaker rates across larger vessel segments.
The main Baltic index, which tracks rates for Capesize, Panamax and supramax vessels, fell 33 points, or around one per cent, to 3,327 points
The Capesize index dropped 75 points, or 1.3 per cent, to 5,612 points. Average daily earnings for Capesize vessels decreased by $675 to $47,397.
Meanwhile, iron ore prices rose slightly reversing earlier losses, as investors shifted focus from demand prospects in top consumer China to possible stimulus measures from Beijing and supply cuts among some small-sized miners.
The Panamax index fell 39 points, or 1.6 per cent, to 2,325 points. Average daily earnings for Panamax vessels fell $349 to $20,927.
Among smaller vessels, the supramax index was up 12 points, or 0.7 per cent, at 1,748.
(Reporting by Katha Kalia in Bengaluru; Editing by Shailesh Kuber)
