Large bulker demand lifts Baltic index up to near seven-month peak

The Baltic Exchange's dry bulk sea freight index rose on Monday to hit a near seven-month peak, supported by firm demand for larger vessel segments.

The main index added 58 points, or 3.6 per cent, at 1,691, its highest level since November 18.

The Capesize index gained 168 points, or 5.9 per cent to 3,010, a near seven-month high. Average daily earnings for Capesize vessels rose $1,389 to $24,961.

The Panamax index firmed 18 points, or 1.5 per cent, to 1,264, a more than two-week high. Average daily earnings for Panamax vessels were up $168 at $11,378.

Iron ore futures prices slipped as weak data from top consumer China weighed on investor sentiment, although hopes of progress in trade talks between the world's two largest economies limited losses.

Three of US President Donald Trump's top aides were in talks with their Chinese counterparts in London on Monday aiming to resolve a trade dispute between the world's two largest economies that has kept global markets on edge.

Among smaller vessels, the supramax index was down seven points, at 926 points, its lowest since March 13.

(Reporting by Ishaan Arora in Bengaluru; Editing by Leroy Leo)