- BDI rises 0.7% to 2,743, driven by stronger Capesize iron ore demand
- Panamax and Supramax stay under pressure
The Baltic Exchange’s Dry Bulk Index (BDI) rose 0.7% (18 points) d-o-d to 2,743 on 24 July 2026, extending its rally for a third consecutive session and reaching its highest level since 17 July. The gains were driven by stronger Capesize earnings, while Panamax and Supramax markets remained under pressure amid subdued cargo demand and ample vessel availability.
Segment-wise performance
- Baltic Capesize Index (BCI): Increased 2.1% (87 points) d-o-d to 4,285 from 4,198, supported by improved iron ore fixture activity and firmer demand across the Pacific and Atlantic basins.
- Baltic Panamax Index (BPI): Declined 2.0% (40 points) d-o-d to 2,024 from 2,064, extending losses to a near three-month low as grain and coal cargo enquiries remained subdued and vessel availability stayed comfortable.
- Baltic Supramax Index (BSI): Fell 0.5% (8 points) d-o-d to 1,694 from 1,702, with sentiment remaining cautious amid balanced tonnage and limited fresh minor bulk cargo enquiries, although the downside was cushioned by stable regional trade flows.
Outlook
The Baltic Dry Bulk Index (BDI) is expected to remain positive in the near term. Capesize freight is likely to stay supported by steady iron ore exports from Australia and Brazil, provided chartering activity remains healthy.
However, gains in the broader index could be limited as the Panamax and Supramax segments continue to face headwinds from subdued coal, grain, and minor bulk demand, coupled with comfortable vessel availability.
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