The Baltic Exchange's dry bulk freight index rose to its highest level in about two and a half years on Thursday, buoyed by strong rates across all vessel segments.
The main Baltic index added 102 points, or 3.3 per cent, to 3,226, its highest since December 2023.
The Capesize index was up 245 points, or 4.7 per cent, at 5,517, also marking its highest since December 2023. Average daily earnings for Capesize vessels increased $2,224 to $46,538.
Chinese coking coal prices rebounded on Thursday, supported by renewed concerns about contracted supply after several mines halted production amid stringent safety inspections following a deadly mine accident in coal-rich Shanxi province.
The Panamax index rose 39 points, or 1.7 per cent, to 2,331. Average daily earnings for Panamax vessels gained $349 to $20,978.
Among smaller vessels, the supramax index edged up seven points, or 0.5 per cent, to 1,569.
(Reporting by Anjana Anil in Bengaluru; Editing by Vijay Kishore)