The Baltic Exchange's dry bulk sea freight index fell to a one-week low on Thursday, weighed down by losses in Capesize vessel rates.
The main index fell 35 points, or 1.7 per cent, to 2,057 points, its lowest since October 16.
The Capesize index hit a similar one-week low, losing 100 points, or 3.2 per cent, to 3,059 points. Average daily earnings for Capesize vessels decreased by $832 to $25,367.
Iron ore futures prices rose on Thursday for a third straight session, boosted by hopes of stimulus measures and upbeat steel data from top consumer China.
The Panamax index extended gains, adding 20 points, or 1.1 per cent, to 1,924 points, its highest since September 16. Average daily earnings for Panamax vessels rose by $181 to $17,319.
Among smaller vessels, the supramax index fell for a fourth straight session, losing 19 points to 1,378 points.
(Reporting by Pablo Sinha in Bengaluru; Editing by Vijay Kishore)
