The Baltic Exchange's dry bulk freight index fell on Wednesday to its lowest level since July 1, as lower Capesize and supramax rates overshadowed gains in the Panamax segment.
The main Baltic index fell 32 points, or 1.2 per cent, to 2,632.
The Capesize index fell 73 points, or 1.8 per cent, to 4,067, its lowest since July 21. Average daily earnings for Capesize vessels fell $664 to $33,384.
Futures for iron ore, used in steelmaking, edged lower as weaker steel mill margins in China dampened demand though concerns over potential supply disruption at BHP's Port Hedland operations limited losses.
The Panamax index ticked up seven points, or 0.4 per cent, to 1,995, logging its first gain since July 15. Average daily earnings for Panamax vessels rose $57 to $17,953.
Among smaller vessels, the supramax index declined 20 points, or 1.2 per cent, at 1,628, its lowest level since June 10.
(Reporting by Vedika Thorat in Bengaluru; Editing by Joyjeet Das)
