The Baltic Exchange's dry bulk sea freight index ticked up on Tuesday, supported by gains in Capesize and Panamax vessel rates.
The main index rose 23 points, or 1.1 per cent, at 2,094 points.
The Capesize index rose 56 points, or 1.8 per cent, to 3,184 points, its highest since October 13. Average daily earnings for Capesize vessels increased by $460 to $26,404.
Iron ore futures prices traded largely within a tight range on Tuesday, as investors shifted focus to a meeting of China's top leadership that will chart the economic policy of the world's second-largest economy for the next five years.
The Panamax index gained 29 points, or 1.6 per cent, to 1,858 points. Average daily earnings for Panamax vessels rose by $258 to $16,718.
Among smaller vessels, the supramax index fell eight points to 1,414 points.
(Reporting by Pablo Sinha in Bengaluru; Editing by Vijay Kishore)
