The Baltic trade and maritime exchange's dry bulk index rose for a seventh straight day on Tuesday as demand for Panamax and ultra handy ships increased.

the Baltic overall dry bulk index rose 8 points or 1.3% to 506.

The Capesize Index fell 15 points, or 9.3%, to 147.

Capesize earnings fell $20 a day to $4120. The ship usually carries 170000-180000 tons of iron ore and coal.

Panamax rose 21 points, or 3.3%, to 656.

Panamax average daily profit rose $190 to $5908. The ship usually carries 60000-70000 tons of coal or grain.

The super handy index rose 9 points to 495.

Randy giveans, Jefferies vice president of equity research, said in a report: "the dry bulk shipping market will remain weak in the first half of 2020."