Baltic Dry Index climbs to 2-week high, driven by stronger Capesize fixtures

• Vessel demand improves after spring holidays in Asia
• Supramax dips despite stable minor bulk cargo demand

The Baltic Exchange’s Dry Bulk Index (BDI) extended gains, rising 1.3% d-o-d to 3,124 points — a two-week high — on improved vessel demand following spring holidays in Asia, marking its strongest level since 15 May.

The upward momentum was supported by improved chartering activity and firmer demand across all major vessel segments, reflecting a gradual recovery in overall dry bulk market sentiment.

Segment-wise trends

• Capesize: The Capesize segment strengthened further, with the index climbing 9% to 5,272 points against 21 May (4,834 points). The increase was primarily driven by improved iron ore and coal cargo enquiries, particularly on key Brazil-China and Australia-China trade routes, alongside healthier vessel utilisation levels.
• Panamax: The Panamax index recorded a slight gain of 0.7% to 2,292 points against 21 May (2,276 points). Steady grain and coal shipments, coupled with increased trans-Atlantic and Pacific fixing activity, supported sentiment in the segment.
• Supramax: The Supramax index edged down by 9 points, or 0.6%, to 1,562 points against 1,571 points on 21 May. Overall, there was stable minor bulk cargo demand and balanced vessel availability across Asian and Indian Ocean trading regions.

Outlook

The Baltic Dry Index is expected to remain firm this week, supported by improving cargo demand and stronger chartering activity across major vessel segments.