- BDI extends recovery for second straight session
- Capesize leads gains; market sentiment improves
The Baltic Exchange’s Dry Bulk Index (BDI) extended its recovery for a second consecutive session, rising 2.4% (61 points) d-o-d to 2,562 points on 1 July 2026, supported by firmer sentiment across all major vessel segments. The rebound was led by Capesize earnings amid improving iron ore and coal cargo activity, while Panamax and Supramax also recorded modest gains.
Segment-wise Performance
- Capesize: The Capesize index increased 4.1% (144 points) to 3,692 points, driven by improved iron ore and coal cargo fixtures, particularly on long-haul routes. Market sentiment strengthened as chartering activity picked up following the recent correction, with both the Atlantic and Pacific basins showing better cargo demand.
- Panamax: The Panamax index advanced 1.1% (23 points) to 2,177 points. Sentiment improved on the back of steady coal and grain cargo enquiries, although gains remained measured due to ample vessel availability in some regions.
- Supramax: The Supramax index rose 0.4% (6 points) to 1,673 points, supported by stable minor bulk demand. However, limited fresh cargo enquiries and balanced tonnage availability kept the upside restrained.
Outlook
The Baltic Dry Index is expected to remain firm in the near term, supported by stronger Capesize demand and steady coal and grain cargoes. However, gains may remain gradual as market participants monitor Chinese steel demand, cargo volumes, and vessel availability.
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