The Baltic Exchange's dry bulk sea freight index rose on Friday to log its best weekly gain since early March, buoyed by stronger Panamax vessel rates.
The main index was up seven points, or 0.4 per cent, at 1,633. The index logged a weekly gain of about 15 per cent, its best week in 13.
The Capesize index lost three points, or 0.1 per cent, to 2,842, snapping a seven-session winning streak, but ended the week nearly 25 per cent higher. Average daily earnings for Capesize vessels fell $20 to $23,572.
Iron ore futures prices rose to a one-week high and were set for weekly gains, buoyed by progress in Sino-US talks and steady demand from top consumer China, although seasonally slow steel consumption capped gains.
The Panamax index gained 35 points, or 2.9 per cent, to 1,246. It logged a weekly gain of 8.2 per cent, marking its best week since late April 2025. Average daily earnings for Panamax vessels were up $311 at $11,210.
Among smaller vessels, the supramax index was down three points, to 933 points, lowest since March 14.
The index ended the week nearly two per cent lower.
(Reporting by Ishaan Arora in Bengaluru; Editing by Sahal Muhammed)