The Baltic Exchange's main sea freight index rose on Thursday, supported by firmer rates across all vessel segments.
The main index, which tracks rates for Capesize, Panamax and supramax shipping vessels, added 14 points, or 0.7 per cent, to 2,008 points.
The Capesize index was up 17 points, or 0.5 per cent, at 3,204. Average daily earnings for Capesize vessels rose $142 to $26,576.
Dalian iron ore futures edged lower as investors weighed an uncertain demand outlook against efforts to curb overcapacity in China, while record exports from major producer Brazil further pressured market sentiment.
The Panamax index was up six points, or 0.4 per cent, at 1,649. Average daily earnings for Panamax vessels rose $54 to $14,845.
Among smaller vessels, the supramax index added 17 points, or 1.3 per cent, to 1,317, its highest level since July 22.
(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Shailesh Kuber)