The main global sea freight index will nudge up in the first quarter from the current level as strong Chinese demand offsets pressure from an oversupply of vessels that has weighed on the market for the past year.

Industry experts polled by Reuters this month expected a small rebound in the benchmark index due to an anticipated rise in Chinese imports of iron ore and coal, the two main commodities in the dry bulk market by volume.

The median of the poll of 11 shipbrokers and analysts showed the Baltic Dry Index (BDI), an indicator of world economic activity, would average 2,118 points from January through March, up 2 percent from Monday's close of 2,076.

"The biggest factor that will influence the dry market in the first three months of the year will be Chinese imports of iron ore," said Marius Magelie, analyst at Norwegian bank ABG Sundal Collier.

Bulk shipping firms, which transport iron ore, coal, and other commodities, have struggled to recover from the global economic downturn with the Baltic Exchange's dry index down more than 30 percent so far this year. (Reuters)