The Baltic Exchange's main sea freight index rose for a third consecutive session on Friday, steered by gains in the Capesize and supramax segments.
The main index added 43 points, or 2.1 per cent, to 2,051 points. The index posted a weekly gain.
The Capesize index was up 138 points, or 4.3 per cent, at 3,343, highest level since late July. Average daily earnings for Capesize vessels rose $1,140 to $27,716.
Iron ore futures edged lower for the day but logged a weekly gain, supported by China's record-high steel exports, robust mill margins, and low inventories.
Among smaller vessels, the supramax index added three points, or 0.2 per cent, to 1,320. The index registered its sixth straight session of gains.
The Panamax index was down 14 points, or 0.9 per cent, at 1,635. Average daily earnings for Panamax vessels fell $133 to $14,712.
(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Shailesh Kuber)