The Baltic Exchange's main sea freight index rose for a third straight session on Thursday, on higher rates across all vessel segments.
The main index added 14 points, or 0.7 per cent, to 2,039 points, its highest since August 8.
The Capesize index was up 24 points, or 0.7 per cent, at 3,304. Average daily earnings for Capesize vessels rose $198 to $27,404.
Iron ore futures slid after the Chinese Government ordered the suspension of construction activity ahead of a military parade in Beijing.
The Panamax index snapped a five-session losing streak, gaining nine points, or 0.6 per cent, to 1,603. Average daily earnings for Panamax vessels rose $83 to $14,425.
Among smaller vessels, the supramax index gained nine points, or 0.7 per cent, to 1,345, a more than three-week high. The index registered its tenth straight session of gains.
(Reporting by Ishaan Arora in Bengaluru; Editing by Sahal Muhammed)