The Baltic Exchange's dry bulk freight index fell on Tuesday to a one week-low, dragged down by declines across all vessel segments.
The main Baltic index fell by 38 points, or 1.2 per cent, to 3,054.
The Capesize index lost 64 points, or 1.3 per cent, to 4,949. Average daily earnings for Capesize vessels fell $574 to $41,385.
Iron ore prices extended falls on Tuesday to hit their lowest in more than two weeks, as top user China's stricter plan to tame overcapacity in the steel industry dampened demand prospects for feedstocks, though firm near-term consumption capped the losses.
The Panamax index lost 52 points, or 2.1 per cent, to 2,459. Average daily earnings for Panamax vessels fell $466 to $22,131.
Among smaller vessels, the supramax index eased by two points, or 0.1 per cent, to 1,568.
(Reporting by Anjana Anil in Bengaluru; Editing by Tasim Zahid)
