The Baltic Exchange's dry bulk sea freight index rose to its highest level in nearly two weeks on Monday, extending gains for a third straight session, as rates increased across all vessel segments.
The main Baltic index was up 41 points, or 1.4 per cent, at 2,882, its highest level since August 12.
The Capesize index gained 91 points, or two per cent, to 4,643, also its highest level since August 12.
Average daily earnings for Capesize vessels rose $817 to $38,602.
Iron ore futures rose, supported by fresh Chinese stimulus signals and expectations of stronger demand before the September peak building season.
The Panamax index was up 28 points, or 1.3 per cent, at 2,131, extending gains for a second consecutive session.
Average daily earnings for Panamax vessels rose $250 to $19,178.
Among smaller vessels, the supramax index gained one point, or 0.06 per cent, to 1,641.
(Reporting by Vedika Thorat in Bengaluru; Editing by Tasim Zahid)