* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 54 points, or about 3.7%, to 1,402, its lowest since March 9.
* "The markets may be hit by a curveball, with the potential threat of a cut in China's steel production looming," shipbroker Allied wrote in a weekly report, adding "such a development would mean a reduction of iron ore imports, leaving some large dry bulkers under utilized."
* The capesize index lost 149 points, or 8.3%, to 1,646, its biggest
drop since Feb. 16.
* Average daily earnings for capesizes , which typically
transport 150,000-tonne cargoes carrying commodities such as iron ore and coal,
decreased $1,233 to $13,655.
* The panamax index shed 4 points, or about 0.3%, to its lowest
since March 2 at 1,561.
* Average daily earnings for panamaxes , which usually carry coal or
grain cargoes of about 60,000 to 70,000 tonnes, decreased $34 to $14,051.
* Among smaller vessels, the supramax index lost 11 points to 1,315.
* Iron ore futures extended their rebound as easing worries about the
banking sector lifted steel price benchmarks in Shanghai, though lingering
concern about demand prospects in top steel producer China limited gains. (Reporting by Ananya Bajpai in Bengaluru; Editing by Shailesh Kuber)
