The Baltic Exchange's dry bulk sea freight index rose on Tuesday, supported by higher Capesize vessel rates.
The main index rose 28 points to 2,200 points.
The Capesize index gained 104 points to 3,469 points. Average daily earnings for Capesize vessels increased by $867 to $28,770.
Iron ore futures prices closed lower, pressured by signs of softening end-use steel demand in China, although restocking ahead of the Chinese National Day holiday provided some support during the session.
The Panamax index shed 23 points to 1,799 points, its lowest since September 4. Average daily earnings for Panamax vessels fell by $210 to $16,190.
Among smaller vessels, the supramax index was steady at 1,486 points.
(Reporting by Noel John in Bengaluru; Editing by Shilpi Majumdar)