Baltic index climbs to nearly 2-year peak on firm Capesize, Panamax levels

The Baltic Exchange’s dry bulk index gained 5 points d-o-d to nearly a two-year high of 2,275 on 21 Nov’25. This was driven by stronger iron ore fixtures, boosting Capesize demand, and steady grain and coal cargo flows, supporting Panamax rates, while balanced supply kept Supramax levels firm.

• Capesize: The BCI increased 6 points to 3,653.
• Panamax: The BPI rose 16 points to 1,928.
• Supramax: The BSI dropped 3 points to 1,432.