The Baltic Exchange's main sea freight index rose on Tuesday, supported by higher rates for Capesize vessels.
The main index rose 13 points, or 0.7 per cent, to 1,958 points.
The Capesize index gained 59 points, or two per cent, to 2,947. Average daily earnings for Capesize vessels increased $489 to $24,444.
Iron ore futures eased on Tuesday, extending losses into a third consecutive session, as slowing factory activity and weak steel demand in top consumer China weighed on market sentiment.
The Panamax index fell 13 points, or 0.7 per cent, to 1,788, marking its seventh consecutive session of losses. Average daily earnings for Panamax vessels was down by $117 to $16,090.
Among smaller vessels, the supramax index lost nine points, or 0.7 per cent, to 1,311.
(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Vijay Kishore)
