The Baltic Exchange’s main sea freight indicator, which tracks the rates for vessels ferrying dry bulk products, reached a near-month-high on Thursday. This was supported by rates that were higher across all vessel segments.

* The overall index which includes rates for capesize and panamax shipping vessels rose 106 points or 5.8% to 1,942, the highest level since May 14

* The capesize Index climbed by 259 points or 9.5% to 2,985.

The average daily earnings of capesize ships, which transport cargos such as coal and iron ore, typically weighing 150,000 tons, increased by $2,144 to $24,752.

Iron ore prices rose, helped by Beijing’s latest efforts to revive the struggling property market. However, a lackluster short-term demand, and high portside stock levels in China, the top consumer, limited gains.

* The panamax Index was up 56 points or about 3% to 1,920.

* The average daily earnings of panamax vessels that carry 60,000 to 70,000 tons coal or grain, increased by $500 up to $17280.

* The supramax index for smaller vessels was up 16 or 1.2% points to 1,313.

The Houthi militants, who are allied with Iran, claimed responsibility on Wednesday for small watercraft attacks and missile strikes that caused a Greek cargo ship to take on water near the Yemeni port of Hodeidah and need rescue. (Reporting from Anmol Choubey, Bengaluru. Editing by Ravi Prakash Kumar.)