- Stronger fixing activity lifts Capesize, Panamax indices
- Supramax edges higher amid steady market activity
The Baltic Dry Index (BDI) rose 43 points, or 1.25%, d-o-d to 3,473 on 24 September against 3,430 on 23 September. The index reached its highest level since 11 September, driven by stronger Capesize and Panamax rates, while Supramax posted a marginal gain.
Baltic Dry Index sentiment turned firmer, supported by improved cargo demand and stronger fixing activity across Capesize and Panamax segments. Tonnage availability remained relatively tight, particularly for larger vessels, lending support to freight rates. Supramax gains were more limited as vessel supply remained adequate. Overall, the market bias remains positive, with demand outpacing available tonnage in key segments.
Segment-wise performance
- Capesize strengthens: The Baltic Capesize Index (BCI) increased 78 points, or 1.3%, d-o-d to 5,939, from 5,861. The recovery reflected firmer demand for larger vessels, with Atlantic activity and major iron ore routes providing support.
- Panamax gains: The Baltic Panamax Index (BPI) climbed up by 49 points, or 2.1%, to 2,382, from 2,333. Improved cargo enquiries and stronger fixing activity supported the segment, making Panamax the strongest gainer among the three segments.
- Supramax edges up: Baltic Supramax Index (BSI) rose 4 points, or 0.2%, to 1,782, from 1,778. Gains remained limited as steady demand was balanced by adequate tonnage availability across key markets.
Outlook
The BDI may retain its elevated levels in the near term, supported by broad-based gains across vessel segments. Continued strength in Capesize and Panamax activity will be key to sustaining the recent recovery, while vessel availability could limit further upside in the smaller segments.
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