The Baltic Exchange's dry bulk sea freight index rose for a second consecutive session on Monday, as gains in Capesize vessels outweighed weakness in Panamax rates.
The main Baltic index was up 15 points, or 0.5 per cent, to 2,878.
The Capesize index gained 52 points, or 1.2 per cent, to 4,590, extending gains to a second consecutive session.
Average daily earnings for Capesize vessels rose by $470 to $38,122.
Iron ore futures eased, as data showing a record contraction in China's new yuan loans reinforced concerns over weak credit demand in the world's second-largest economy.
The Panamax index was down 22 points, or one per cent, to 2,206, its lowest level since August 4.
Average daily earnings for Panamax vessels fell $202 to $19,853.
Among smaller vessels, the supramax index gained six points, or 0.4 per cent, to 1,628, its highest level since July 28.
(Reporting by Vedika Thorat in Bengaluru; Editing by Vijay Kishore)
