The Baltic Exchange's dry bulk sea freight index rose to a one-and-a-half year high on Thursday as rates climbed across vessel segments.
The main index rose by 26 points to 2,266 points, its highest level since March 2024.
The Capesize index gained 68 points to 3,641 points. Average daily earnings for Capesize vessels increased by $558 to $30,194.
Prices of Dalian iron ore futures edged higher, supported by pre-holiday restocking activity.
The Panamax index rose by 11 points to 1,835 points. Average daily earnings for Panamax vessels increased by $103 to $16,517.
Among smaller vessels, the supramax index was unchanged at 1,483 points.
(Reporting by Noel John in Bengaluru)