Rates for the freefalling dry bulk sector are showing a glimmer of hope Tuesday, having ticked up slightly on the larger ships for the first time in weeks.

The Baltic Exchange Dry Index inched up seven points to 418 after falling steadily from 1,606 points on 3 December.

Meanwhile, capesize rates gained one point to -253 after dropping from 3,382 points since 4 December, according to the exchange's Capesize Index.