The Baltic Exchange's dry bulk freight index rose on Thursday, supported by higher rates across all segments.
The main Baltic index rose 43 points, or 1.2 per cent, to 3,399 points.
The Capesize index rose 78 points, or 1.3 per cent, to 5,939 points.
Average daily earnings for Capesize vessels increased by $709 to $50,361.
Iron ore futures were little changed as rising inventories and deepening losses at steel mills in top buyer China countered some support from expectations of reduced shipments from Brazil.
The Panamax index rose 49 points, or 2.1 per cent, to 2,382 points.
Average daily earnings for Panamax vessels gained $438 to $21,434.
Among smaller vessels, the supramax index inched up four points, or 0.2 per cent, at 1,782.
(Reporting by Katha Kalia in Bengaluru; Editing by Harikrishnan Nair)