The Baltic Exchange's dry bulk freight index fell on Monday, dragged lower by declines in the Capesize and Panamax vessel segments.
The main Baltic index fell 65 points, or 2.2 per cent, to 2,916.
The Capesize index was down 174 points, or 3.6 per cent, at 4,719. Average daily earnings for Capesize vessels fell $1,576 to $39,295.
Iron ore futures declined for the fourth straight session on Monday, as high portside inventories and compressed steel mill margins weighed on prices.
The Panamax index index fell 18 points to 2,218. Average daily earnings for Panamax vessels fell $155 to $19,966.
Among smaller vessels, the supramax index was up eight points at 1,596.
(Reporting by Anjana Anil in Bengaluru; Editing by Sahal Muhammed)
