Baltic Dry Index rises for fourth consecutive session

• Panamax leads recovery amid firmer cargo activity
• Capesize extends gains, Supramax remains broadly stable

The Baltic Dry Index (BDI) rose for a fourth consecutive session, gaining 33 points, or 1.0%, to 3,432 on 22 September, from 3,399 on 21 September, reaching its highest level since 14 September. The recovery was led by the Panamax and Capesize indices, while Supramax remained broadly stable.

Segment-wise performance

• Capesize extends gains: The Baltic Capesize Index (BCI) rose 53 points, or 0.9%, to 5,892 from 5,839, extending its recovery. Firmer Atlantic activity and continued Brazil-China enquiries provided support, while Pacific fundamentals remained comparatively softer.
• Panamax leads: The Baltic Panamax Index (BPI) climbed up by 44 points, or 2.0%, to 2,299, from 2,255. The stronger move reflected improved cargo enquiries and fixing activity, although ample tonnage availability continued to limit a sharper recovery.
• Supramax remains stable: The Baltic Supramax Index (BSI) edged up 5 points, or 0.3%, to 1,776 from 1,771. Steady Asian cargo activity offered support, but relatively balanced vessel availability kept gains limited.

Outlook

The BDI is likely to remain firm but mixed in the near term. Panamax momentum could persist if cargo enquiries strengthen, while Capesize will remain dependent on Atlantic fixing activity and Brazil-China demand. Supramax is expected to remain relatively stable, with Asian cargo flows and vessel availability driving near-term sentiment.