The Baltic Exchange's dry bulk sea freight index extended its winning streak to a fifth consecutive session on Wednesday, buoyed by gains across all vessels, with Capesize segment climbing to an over two-week high.
The main Baltic index was up 130 points, or 4.4 per cent, at 3,056, its highest level since August 10.
The Capesize index gained 298 points, or 6.3 per cent, to 5,033, also its highest level since August 10.
Average daily earnings for Capesize vessels rose $2,706 to $42,148.
Iron ore futures rose as Typhoon Narra disrupted shipping routes in the South China Sea, curbing supply and pushing up freight costs.
The Panamax index was up 80 points, or 3.7 per cent, at 2,246, logging its highest level since August 13.
Average daily earnings for Panamax vessels rose $717 to $20,213.
Among smaller vessels, the supramax index gained one point, or 0.06 per cent, to 1,644.
(Reporting by Vedika Thorat in Bengaluru; Editing by Shailesh Kuber)