Baltic Dry Index falls over 50 points d-o-d to 1-week low on weak Capesize performance

• Capesize index drops on weak iron ore demand
• Improved minor bulk demand supports freight

The Baltic Dry Index declined marginally by 1.87% (59 points) to 3,092 on 18 May 2026 against 15 May, as weakness in the Capesize segment outweighed relatively stable performance in smaller vessel classes.

Segment-wise trends

• Capesize: The Baltic Capesize Index (BCI) declined by 5.7% (303 points) to 5,013, amid softer iron ore cargo demand and reduced spot fixture activity on key Brazil-China and Australia-China routes. Market sentiment turned cautious as charterers remained selective despite steady tonnage availability.
• Panamax: The Baltic Panamax Index (BPI) edged down by 0.4% (10 points) to 2,511, pressured by muted grain and coal trade activity. Sentiment remained largely balanced, with limited fresh cargo enquiries offsetting vessel supply across the Atlantic and Pacific basins.
• Supramax: The Baltic Supramax Index (BSI) increased by 0.32% (5 points) to 1,570, supported by improved minor bulk demand and better cargo movement in Asian markets. Sentiment stayed mildly firm as steady regional enquiries provided support to freight levels.

Outlook

Dry bulk freight sentiment is likely to remain mixed in the near term. Capesize rates may stay volatile amid fluctuating iron ore demand and cautious chartering activity, while Panamax and Supramax segments could see support from steady grain and minor bulk cargo movements.