* The overall index, which factors in rates for capesize, panamax and
supramax shipping vessels, was up 122 points, or about 8.3%, to 1,587 - its
highest since Dec. 22.
* The capesize index gained 289 points, or about 15.9%, to a more
than 11-week high of 2,110.
* Average daily earnings for capesizes , which typically transport
150,000-tonne cargoes such as iron ore and coal, increased $2,401 to $17,500.
* "With Brazil iron ore exports up noticeably compared with this time last
year we might expect a firm capesize market to remain for a while," shipbroker
Allied wrote in a weekly report.
* The panamax index rose 63 points, or about 3.8%, to an over
four-month high of 1,743.
* Average daily earnings for panamaxes , which usually carry coal or
grain cargoes of about 60,000 to 70,000 tonnes, increased $564 to $15,685.
* Among smaller vessels, the supramax index was up 28 points at
1,263.
* "For the smaller sizes, the continuation of the Black Sea grain deal, low
crop yields in Argentina, and a bumper, but delayed, Brazilian crop will keep
the market interesting over the coming weeks, as grain flows shift from
established patterns," Allied added.
* Meanwhile, Dalian iron ore futures pulled back from a contract high on
Tuesday, although losses were limited by buoyant steel prices in top steel
producer China. (Reporting by Ananya Bajpai in Bengaluru; Editing by Shailesh Kuber)
