The Baltic Exchange's dry bulk sea freight index rose to an eight-month peak on Monday due to higher rates across all vessel segments.
The main index was up seven points, or 0.4 per cent, at 1,975, its highest since October 2.
The Capesize index added nine points, or 0.2 per cent, to 3,731, its highest level since July 2024. Average daily earnings for Capesize vessels increased by $78 to $30,944.
Iron ore futures prices edged up, supported by resilient demand for the steelmaking material, though US steel tariff concerns capped gains.
The Panamax index firmed another nine points, or 0.6 per cent, to 1,410, hitting over a ten-week high. Average daily earnings for Panamax vessels added $84 to $12,694.
Among smaller vessels, the supramax index gained three points to 939, a near two-week high.
(Reporting by Sarah Qureshi in Bengaluru; Editing by Shailesh Kuber)