The Baltic Exchange's dry bulk freight index fell on Wednesday, after rising to a one-week high in the previous session, weighed down by weaker rates in the Capesize vessel category.
The main Baltic index was down two points, or 0.06 per cent, at 3,430 points.
The Capesize index fell 31 points, or 0.5 per cent, to 5,861 points.
Average daily earnings for Capesize vessels decreased by $286 to $49,652.
Iron ore futures edged up, continuing to stabilise after last week's sharp fall, as supply disruption in Brazil linked to El Niño provided short-term support, countering a drag from weak Chinese steel mill profitability.
The Panamax index rose 34 points, or 1.5 per cent, to 2,333 points.
Average daily earnings for Panamax vessels gained $309 to $20,996.
Among smaller vessels, the supramax index inched up two points, or 0.1 per cent, to 1,778.
(Reporting by Katha Kalia in Bengaluru; Editing by Diti Pujara)
