- Capesize weakness drags BDI lower
- Panamax resilient; outlook remains mixed
The Baltic Exchange’s Dry Bulk Index (BDI) declined by 2.6% (67 points) d-o-d to 2,524 points on 26 June 2026, marking its fifth consecutive daily decline and the lowest level since mid-April, primarily due to weakness in the Capesize segment.
Segment-wise performance
- Capesize: The Capesize index fell 4.9% (187 points) to 3,640 points, pressured by softer iron ore and coal cargo demand and subdued chartering activity in both the Pacific and Atlantic basins.
- Panamax: The Panamax index rose 0.7% (14 points) to 2,110 points, supported by steady coal shipments and seasonal grain export demand.
- Supramax: The Supramax index declined 0.5% (8 points) to 1,670 points, as limited minor bulk cargo enquiries and balanced vessel supply kept freight rates under pressure.
Outlook
Baltic Dry Index sentiment is expected to remain mixed to slightly bearish in the near term, with the benchmark likely to stay under pressure amid subdued Capesize earnings. While weaker iron ore and coal cargo demand may continue to weigh on larger vessels, steady grain and coal shipments are expected to support the Panamax segment.
Meanwhile, Supramax rates are likely to remain range-bound as balanced vessel availability offsets moderate demand for minor bulk cargoes.
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