The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday as rates for larger vessels dropped.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 12 points, or 1.22 percent, at 968 points.
The capesize index lost 15 points, or 1.23 percent, at 1,206 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $108 at $9,439.
The panamax index shed 33 points, or 2.69 percent, at 1,192 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $260 to $9,549.
Among smaller vessels, the supramax index fell 6 points to 807 points, while the handysize index was flat at 500 points.
Reporting by Karen Rodrigues