The Baltic Exchange's main dry bulk shipping benchmark halted a ten-day run of consecutive losses on Monday, supported by an upturn in the larger vessel sector.
The overall dry bulk index, which monitors rates for vessels transporting bulk commodities, rose by approximately 1.4% to reach 2,546 points, according to market reporting by Hellenic Shipping News Worldwide.
The turnaround was primarily driven by renewed strength in the capesize market. Capesize vessels generally carry around 150,000-tonne cargoes, predominantly comprising iron ore and coal.