The Baltic Exchange's dry bulk freight index fell to a near four-week low on Monday, pressured by weaker rates across larger vessel segments.
The main Baltic index fell by 158 points, or 4.61 per cent, to 3,268 points, its lowest level since September 1.
The Capesize index dropped 433 points, or 7.49 per cent, to 5,351 points.
Average daily earnings for Capesize vessels decreased by $3,930 to $45,024.
Dalian iron ore futures fell to a five-week low, as ample global supply, rising Chinese port inventories and steel mills cutting output on deepening losses pressured prices.
The Panamax index shed five points, or 0.21 per cent, to 2,402 points.
Average daily earnings for Panamax vessels fell by $42 to $21,620.
Among smaller vessels, the supramax index inched up four points, or 0.22 per cent, to 1,790 points.
Russian wheat export prices declined, in line with global trends last week; analysts have again made revised up estimates for September shipments from Russia, citing increased activity at Baltic ports.
(Reporting by Noel John in Bengaluru; Editing by Joyjeet Das)
