The Baltic Exchange's dry bulk sea freight index held steady near a two-month high, as gains in Capesize vessel rates countered declines in smaller vessel segments.
The main index gained one point to 2,154 points, marking its highest level since July 28.
The Capesize index climbed 35 points, or 1.1 per cent, to 3,189, its highest since August 18. Average daily earnings for Capesize vessels increased $287 to $26,443.
Iron ore futures prices rebounded on Tuesday, supported by improving steel output in China, while gains in steel benchmarks reflected improving sentiment despite weak housing data.
Meanwhile, the Panamax index extended losses, dropping 35 points, or 1.8 per cent, to 1,968, its lowest in a week. Average daily earnings for Panamax vessels lost $315 to $17,712.
Among smaller vessels, the supramax index lost two points, to 1,491 points.
(Reporting by Pablo Sinha in Bengaluru; Editing by Vijay Kishore)
