The Baltic Exchange's dry bulk freight index fell on Monday after a three-day winning streak, pressured by a fall in rates for Capesize and Panamax vessels.
The main Baltic index fell 53 points, or 1.4 per cent, at 3,575.
The Capesize index was down 141 points, or 2.2 per cent, at 6,286.
Average daily earnings for Capesize vessels decreased by $1,283 to $53,508.
Iron ore prices rose for a third straight session on Monday to hit a multi-week high, supported by elevated freight rates and expectations of restocking by steelmakers ahead of the National Day holiday in top consumer China.
The Panamax index fell 17 points, or 0.7 per cent, to reach 2,431.
Average daily earnings for Panamax vessels fell $157 to $21,878.
The supramax index was up seven points, or 0.4 per cent, at 1,682.
(Reporting by Pablo Sinha in Bengaluru; Editing by Janane Venkatraman)
