The Baltic Exchange's dry bulk freight index moved lower on Tuesday, pressured by weak rates across the Capesize and Panamax vessel segments.
The main Baltic index fell by 17 points, or 0.5 per cent, to 3,205.
The Capesize index was down 37 points, or 0.7 per cent, at 5,459. Average daily earnings for Capesize vessels fell $338 to $46,008.
However, Chinese coking coal prices extended gains for a second straight session on Tuesday, supported by lingering supply-side concerns as coal-rich Shanxi province stepped up safety inspections at mines following a fatal accident.
The Panamax index fell by 23 points to 2,321. Average daily earnings for Panamax vessels lost $206 to $20,889.
Among smaller vessels, the supramax index was up seven points at 1,577.
(Reporting by Anjana Anil in Bengaluru; Editing by Shailesh Kuber)
