Baltic Dry Index rises further as Capesize, Supramax segments strengthen

• Capesize index climbs up for 2nd straight session
• Supramax reaches highest level since 29 Jul’26

The Baltic Dry Index (BDI) increased for a second consecutive session, by 34 points (1.2%) to 2,878 on 17 August from 2,844 on 13 August. The rebound was primarily driven by stronger Capesize freights, while Supramax also advanced. However, continued weakness in Panamax limited the overall upside.

The BDI’s latest movement indicates a moderate recovery in dry bulk freight momentum, although performance remains mixed across vessel segments. Capesize has emerged as the key growth driver, while Panamax is showing signs of sustained pressure.

Segment-wise performance

• Baltic Capesize Index (BCI): Increased 2.7% to 4,590 on 17 August from 4,469 on 13 August. The second consecutive gain signals renewed strength in the larger vessel segment, likely supported by firmer iron ore and coal freight activity.
• Baltic Panamax Index (BPI): Declined 2.5% to 2,206 from 2,262, extending its weakness and reaching its lowest level since 5 August. The continued correction suggests softer coal and grain demand and/or increased vessel availability in the segment.
• Baltic Supramax Index (BSI): Rose 0.9% to 1,628 from 1,613, the highest since 29 July, reflecting comparatively resilient demand for minor-bulk cargoes.

Outlook

The BDI may maintain a mixed-to-firm trend in the near term, with Capesize likely to remain the primary driver of market direction. Continued strength in iron ore and coal cargo flows could support larger vessel rates, while Panamax may remain under pressure amid softer chartering activity.

Supramax is expected to remain comparatively resilient if minor-bulk enquiries stay steady. Overall market direction will depend on fresh cargo volumes, vessel availability and the sustainability of Capesize gains.