The Baltic Exchange's dry bulk freight index fell on Friday and posted a weekly drop, weighed down by losses in Capesize and Panamax vessel segments.
The main Baltic index fell 56 points, or 1.8 per cent, to 2,981. It was down 7.5 per cent for the week.
The Capesize index was down 147 points, or 2.9 per cent, at 4,893, and was down 11.1 per cent for the week. Average daily earnings for Capesize vessels fell $1,333 to $40,871.
Iron ore prices were headed for a fourth weekly loss, even as they were mixed on Friday, as falling margins for steelmakers in top consumer China curbed buying appetite for the key steelmaking ingredient.
The Panamax index fell 18 points to 2,236, and logged a weekly fall of 4.6 per cent. Average daily earnings for Panamax vessels lost $164 to $20,121.
Among smaller vessels, the supramax index was up four points at 1,588, at a 1.2 per cent weekly gain.
(Reporting by Anjana Anil in Bengaluru)
