- Capesize gains 1% d-o-d on firmer activity, stronger Atlantic momentum
- Panamax holds steady after recent declines, while Supramax extends gains
The Baltic Dry Index (BDI) rose by 36 points (1.0%) d-o-d to 3,620 on 9 September 2026, from 3,584 on 8 September, marking its second consecutive session of gains. The recovery was supported by Capesize and Supramax, while Panamax remained unchanged.
The broad-based improvement suggests dry bulk sentiment is turning firmer, although momentum remains uneven across segments. Capesize continues to be the key driver, supported by stronger Atlantic activity and tightening fundamentals, while stable Panamax rates indicate that the recent weakness in the segment may be easing.
Segment-wise performance
- Baltic Capesize Index (BCI): The Capesize index increased by 87 points (1.4%) d-o-d to 6,400, from 6,313. The segment led the broader BDI recovery, with average Capesize earnings rising to around $54,538/day. Market sentiment remains constructive, with recent reports highlighting firm Atlantic activity and strong rates on key iron-ore routes.
- Baltic Panamax Index (BPI): The Panamax index was unchanged at 2,414, following its recent decline. The stability suggests that downward pressure has temporarily eased, although activity remained broadly unchanged and rates were stable across most regions.
- Baltic Supramax Index (BSI): The Supramax index rose by 11 points (0.7%) d-o-d to 1,704, from 1,693. A slight improvement in activity supported minor freight increases across most routes, pointing to resilient demand in the smaller-size segment.
Outlook
The near-term outlook remains cautiously positive, with Capesize likely to remain the primary driver of BDI momentum. Stronger Atlantic activity and firm iron-ore demand are providing support to larger vessels, while improving Supramax activity adds breadth to the recovery. However, softer iron-ore prices and concerns around Chinese steelmaker margins could limit the upside if demand weakens.
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