The Baltic Exchange's dry bulk freight index extended losses for a third straight session on Wednesday as Capesize and Panamax segments fell, while the supramax rose slightly.
The main Baltic index was down 107 points, or 3.5 per cent, at 2,939. It had hit its highest level since June 3 on Friday.
The Capesize index lost 289 points, or 5.8 per cent, to 4,712. Average daily earnings for Capesize vessels fell $2,619 to $39,237.
Iron ore futures were stuck in a narrow range as Typhoon Dolphin halted dozens of construction projects in central China, although higher planned steel purchases offered some support to prices.
The Panamax index was down 10 points, or 0.4 per cent, at 2,302, snapping a 10-session win run. Average daily earnings for Panamax vessels fell $97 to $20,716.
Among smaller vessels, the supramax index was up three points, or 0.2 per cent, at 1,603.
(Reporting by Dharna Bafna in Bengaluru; Editing by Tasim Zahid)
