The Baltic Exchange's dry bulk freight index edged higher on Thursday to a more than five-month high, as gains in Panamax and supramax segments overshadowed losses in the Capesize segment.
The main Baltic index added six points, or 0.2 per cent, to 3,195, its highest since December 5.
The Capesize index lost 24 points, or 0.5 per cent, to 5,316.
Average daily earnings for Capesize vessels fell $224 to $44,706.
Dalian iron ore futures closed flat on Thursday after a two-session slide, as traders weighed weak demand for Chinese steel products against an expected rise in hot metal output next week.
The Panamax index rose 49 points, or two per cent, to 2,503.
Average daily earnings for Panamax vessels gained $445 to $22,528.
Among smaller vessels, the supramax index added five points, or 0.3 per cent, to 1,558.
(Reporting by Anjana Anil in Bengaluru)