Baltic dry index rises 1.4% to 1-month high on firm demand

• Capesize segment leads gains, hits 1-month high
• Panamax and Supramax maintain steady upward trend

The Baltic Exchange’s Dry Bulk Index (BDI) continued its upward momentum on 9 July 2026, rising 1.4% (39 points) d-o-d to 2,910 points, its highest level since 8 June. The gains were primarily driven by continued strength in the Capesize segment, supported by improved iron ore and coal cargo demand, while Panamax and Supramax markets also posted modest increases amid steady chartering activity.

Segment-wise performance

• Capesize: The Baltic Capesize Index (BCI) increased 2% (89 points) d-o-d to 4,569 points, marking a one-month high. Market sentiment remained firm, supported by robust iron ore exports from Australia and Brazil and healthy coal cargo volumes, which boosted chartering activity across the Pacific and Atlantic basins. Tight vessel supply further supported freight earnings.
• Panamax: The Baltic Panamax Index (BPI) edged up 0.4% (8 points) to 2,253 points. Sentiment remained cautiously positive, supported by stable coal and grain demand, particularly from Australia and the North Pacific.
• Supramax: The Baltic Supramax Index (BSI) advanced 0.8% (14 points) to 1,700 points. Market sentiment improved modestly on the back of healthy demand for minor bulks, including steel products, fertilizers, cement and agricultural commodities. Regional cargo availability remained steady across Asia, while tightening prompt tonnage in some loading areas lent additional support to freight rates.

Outlook

The Baltic Dry Index is expected to remain on a firm footing in the near term, supported by healthy Capesize demand driven by sustained iron ore exports from Australia and Brazil and steady coal shipments.

Improving cargo availability across key trade routes is likely to keep vessel utilisation elevated, while stable grain and minor bulk movements should continue to support the Panamax and Supramax segments.