The Baltic Exchange's dry bulk freight index snapped a four-day losing streak on Friday, but posted a weekly loss due to weaker Capesize and Panamax vessel rates.
The main Baltic index was up 19 points, or 0.7 per cent, to 2,863. The index fell 7.3 per cent for the week.
The Capesize index gained 69 points, or 1.5 per cent, to 4,538. The index lost 11.5 per cent this week.
Average daily earnings for Capesize vessels rose by $627 to $37,652.
Iron ore futures rose as falling Chinese port inventories, fresh liquidity injection from the country's central bank and signs of recovering steel demand lifted sentiment.
The Panamax index was down 34 points, or 1.5 per cent, to 2,228, logging a weekly fall of three per cent.
Average daily earnings for Panamax vessels fell $306 to $20,055.
Among smaller vessels, the supramax index gained nine points, or 0.6 per cent, to 1,622, its highest level since July 28. The index marked a weekly gain of 1.2 per cent.
(Reporting by Dharna Bafna in Bengaluru; Editing by Joyjeet Das)
