The Baltic Exchange's dry bulk sea freight index rose to its highest level in nearly two weeks on Tuesday as rates increased across all vessel segments.
The main Baltic index was up 44 points, or 1.5 per cent, at 2,926, its highest level since August 12.
The Capesize index gained 92 points, or two per cent, to 4,735, its highest level since August 11.
Average daily earnings for Capesize vessels rose $840 to $39,442.
Iron ore futures edged lower, as concerns over margin pressure from rising coke costs outweighed steel mill restocking prospects ahead of China's National Day holidays.
The Panamax index was up 35 points, or two per cent, at 2,166, extending gains for a third consecutive session.
Average daily earnings for Panamax vessels rose $318 to $19,496.
Among smaller vessels, the supramax index gained two points, or 0.1 per cent, to 1,643.
(Reporting by Vedika Thorat in Bengaluru; Editing by Sahal Muhammed)
