The Baltic Exchange's dry bulk sea freight index rose to its highest level in nearly three months on Friday, buoyed by gains across all vessel segments, and logged a 12.1 per cent weekly rise.
The main Baltic index was up 79 points, or 2.5 per cent, at 3,186, its highest level since June 2. The index rose 12.1 per cent for the week.
The Capesize index gained 198 points, or 3.9 per cent, to 5,336, also its highest level since June 2. The index gained 17.2 per cent this week.
Average daily earnings for Capesize vessels rose $1,798 to $44,896.
Iron ore futures rose, clinching weekly gains, supported by destocking at major ports in top buyer China.
The Panamax index was up 23 points, or one per cent, at 2,315, marking its highest level since June 2. The index logged a 10.1 per cent weekly decline.
Average daily earnings for Panamax vessels rose $202 to $20,834.
Among smaller vessels, the supramax index gained two point, or 0.1 per cent, to 1,647. The index gained 0.4 per cent this week.
(Reporting by Vedika Thorat in Bengaluru; Editing by Diti Pujara)
