The Baltic Exchange's dry bulk freight index rose to a more than two-month high on Wednesday, as strong vessel rates in Capesize and Panamax segments supported prices.
The main Baltic index was up 127 points, or 4.3 per cent, to 3,063, its highest level since June 3.
The Capesize index rose 316 points, or 6.6 per cent, to 5,094, also hitting its highest level since June 3. Average daily earnings for Capesize vessels rose by $2,867 to $42,698.
Iron ore futures rose on Wednesday, as a looming strike at BHP's Port Hedland operations lent some support.
The Panamax index was up 49 points, or 2.2 per cent, to 2,236, hitting its highest level since July 17. Average daily earnings for Panamax vessels rose $442 to $20,128.
Among smaller vessels, the supramax index lost one point, or 0.06 per cent, at 1,612.
(Reporting by Vedika Thorat in Bengaluru; Editing by Vijay Kishore)
