The Baltic Exchange's dry bulk freight index rose on Monday, helped by stronger rates across all segments.
The main Baltic index rose 29 points, or 0.8 per cent, to 3,399 points.
The Capesize index rose 71 points, or 1.2 per cent, to 5,839 points.
Average daily earnings for Capesize vessels increased by $638 to $49,450.
Iron ore futures nudged higher, supported by expectations that Chinese steel mills will increase raw material purchases ahead of the Golden Week holiday, although gains were capped by higher port inventories.
The Panamax index rose four points, or 0.18 per cent, to 2,255 points.
Average daily earnings for Panamax vessels gained $35 to $20,297.
Among smaller vessels, the supramax index inched up four points, or 0.2 per cent, at 1,771.
(Reporting by Katha Kalia in Bengaluru; Editing by Vijay Kishore)