The Baltic Exchange's dry bulk freight index fell for a fifth straight session on Thursday as rates for Capesize and Panamax vessels fell.
The main Baltic index fell 41 points, or 1.4 per cent, to 2,964, its lowest in more than two weeks.
The Capesize index was down 46 points, or 0.9 per cent, at 4,834, its lowest since May 5. Average daily earnings for Capesize vessels fell $425 to $40,335.
Iron ore futures declined to a three-week low on Thursday as higher imports from Australia and Brazil and elevated portside inventories weighed on prices.
The Panamax index fell 98 points, or 4.1 per cent, to 2,276. Average daily earnings for Panamax vessels fell $882 to $20,458.
Among smaller vessels, the Supramax index gained five points, or 0.3 per cent, to 1,571.
(Reporting by Ishaan Arora in Bengaluru; ; Editing by Joyjeet Das)
