The Baltic Exchange’s main sea freight index rose for the fourth straight session on Thursday as Capesize rates jumped.
The main Baltic index rose by 13 points, or 0.49 per cent, to 2,693 points, its highest since October 13.
The Capesize index gained 55 points, or 1.45 per cent, to 3,848 points, its highest level in more than a week.
Average daily earnings for Capesize vessels increased by $501 to $31,396.
Iron ore futures fell on Thursday after China's state buyer reached a new supply deal with Rio Tinto, while steel mill margins showed little sign of improvement.
The Panamax index fell 53 points, or 2.40 per cent, to 2,151 points, its lowest since August 24.
Average daily earnings for Panamax vessels fell by $478 to $19,358.
Among smaller vessels, the supramax index rose by 20 points, or 1.07 per cent, to 1,890 points, its highest since August 2022.
(Reporting by Vishak Mathew in Bengaluru; Editing by Aseem Gujar)