The Baltic Exchange's dry bulk freight index fell on Tuesday, pressured by lower rates in the Capesize and Panamax vessel segments.
The main Baltic index fell 98 points, or 3.4 per cent, to 2,818.
The Capesize index was down 278 points, or 5.9 per cent, at 4,441. Average daily earnings for Capesize vessels fell $2,524 to $36,771.
Iron ore futures fell for the fifth straight session on Tuesday amid seasonally weak steel demand in China, while coking coal and coke prices slumped as more coal mines reopened after safety inspections following a fatal mine accident in May.
The Panamax index fell 13 points, or 0.6 per cent, to 2,205. Average daily earnings for Panamax vessels fell $120 to $19,846.
Among smaller vessels, the supramax index was up 18 points, or 1.1 per cent, at 1,614.
(Reporting by Anjana Anil in Bengaluru; Editing by Vijay Kishore)
