The Baltic Exchange's main sea freight index rose to a four-week high on Monday, supported by gains across all vessel segments.
The main index gained 120 points, or 7.2 per cent, to 1,783 points, its highest level since June 18.
The Capesize index rose 263 points, or 12.5 per cent, to 2,367. Average daily earnings for Capesize vessels increased $2,180 to $19,633.
Iron ore futures edged higher, buoyed by strong China trade data, although gains were limited by production curbs in major steelmaking regions in the world's second-largest economy.
The Panamax index rose 89 points, or 4.8 per cent, to 1,949, marking its highest level since June 18 last year. Average daily earnings for Panamax vessels gained $801 to $17,544.
Among smaller vessels, the supramax index added 25 points, or 2.1 per cent, to 1,244.
(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Shreya Biswas)