Baltic dry index rises for fourth straight session as Capesize, Supramax gains offset Panamax decline

• Capesize index rises 1.5% for fourth straight session, Supramax hits 4-year high
• Panamax index falls 2.4% to nearly two-month low, limiting overall gains

The Baltic Dry Index (BDI) rose by 13 points, or 0.49%, d-o-d to 2,693 on 22 October from 2,680 on 21 October, extending gains for a fourth consecutive session and reaching its highest level since 14 October. The increase was supported by continued strength in the Capesize and Supramax segments, which offset further weakness in Panamax rates. The divergent performance indicates firmer sentiment in larger and smaller vessel segments, while Panamax markets remain under pressure.

Segment-wise performance

• Capesize index extends rally: The Baltic Capesize Index (BCI) rose by 55 points, or 1.45%, d-o-d to 3,848 from 3,793, marking its fourth consecutive session of gains and reaching a more than one-week high. The sustained advance provided the main support to the overall index, indicating continued strength in the large-vessel segment.
• Panamax index falls to nearly two-month low: The Baltic Panamax Index (BPI) declined by 53 points, or 2.4%, d-o-d to 2,151 from 2,204, extending its downward trend to the lowest level since 24 August. The continued decline highlights persistent weakness in the segment, potentially reflecting subdued coal and grain shipping demand or relatively ample vessel availability.
• Supramax index reaches four-year high: The Baltic Supramax Index (BSI) increased by 20 points, or 1.07%, d-o-d to 1,890 from 1,870, reaching its highest level since August 2022. The fresh high signals sustained strength in the smaller-vessel segment, helping offset losses in Panamax rates.