Baltic Dry Index extends decline on Capesize, Panamax weakness

• BDI declines for fifth consecutive session
• Capesize records sharpest fall, Supramax gains

The Baltic Dry Index (BDI) declined d-o-d by 33 points, or 1%, to 3,327 on 16 September from 3,360 on 15 September, marking its fifth consecutive session of decline and taking the index to its lowest level since 1 September. The fall was primarily driven by continued weakness in the Capesize and Panamax segments, while a marginal gain in Supramax provided limited support.

Segment-wise performance

• Capesize extends losses: The Baltic Capesize Index (BCI) fell by 75 points, or 1.3%, d-o-d to 5,612 from 5,687. The decline remained the biggest drag on the overall BDI. Softer freight sentiment continued to weigh on the Capesize market.
• Panamax slips further: The Baltic Panamax Index (BPI) declined d-o-d by 39 points, or 1.7%, to 2,325 from 2,364. The segment recorded a slightly sharper percentage decline than Capesize, amid continued pressure on Panamax freight rates.
• Supramax gains: The Baltic Supramax Index (BSI) increased d-o-d by 12 points, or 0.7%, to 1,748 from 1,736. Supramax was the only major vessel segment to register a gain. However, the modest increase was insufficient to offset the combined declines in Capesize and Panamax.