* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.6%, to its highest in eight weeks at 1,598.
* The capesize index was up 125 points, or 5.2%, at
2,509 — its highest since Dec. 22.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes carrying commodities
such as iron ore and coal, increased $1,039 to $20,807.
* "Capesize rates continue to push higher, somewhat under
the radar, and bucking the trend of the broader steel and iron
ore markets," brokerage Jefferies wrote in a note dated Tuesday.
* Dalian iron ore futures extended gains on hopes of
additional policy support for China's economy, but the
challenging outlook for the world's top steel producer weighed
on the steelmaking ingredient's benchmark price in
Singapore.
* The panamax index slipped 7 points to 1,494 — its
lowest since Feb. 28.
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, lost $62 to $13,450.
* Among smaller vessels, the supramax index snapped
its seven-session losing streak; added 1 point at 1,097.
(Reporting by Ananya Bajpai in Bengaluru; Editing by Shilpi
Majumdar)
