The Baltic Exchange's dry bulk freight index rose to its highest since late 2023 on Wednesday, buoyed by strong rates across all segments.
The main Baltic index added 174 points, or 5.5 per cent, to reach 3,331, its highest since December 2023.
The Capesize index was up 421 points, or 8.1 per cent, at 5,642, its highest level since December 2023.
Average daily earnings for Capesize vessels rose $3,819 to $47,666.
However, iron ore futures fell as rising coking coal costs continued to squeeze steel mill margins and growing port inventories underscored ample supply.
The Panamax index gained 69 points, or 2.9 per cent, to reach 2,429, hitting a more than three-month high.
Average daily earnings for Panamax vessels increased $628 to $21,865.
Among smaller vessels, the supramax index was up seven points, or 0.4 per cent, at 1,657.
(Reporting by Katha Kalia in Bengaluru; Editing by Jonathan Ananda)
