Baltic Dry Index declines for fourth straight session

• BDI hits mid-Apr'26 low on Capesize losses
  
  
• Panamax rises on steady grain, coal shipments
  
  

The Baltic Exchange's Dry Bulk Index (BDI) declined by 1.63% (43 points) d-o-d to 2,591 points on 25 June 2026, marking its fourth consecutive daily decline and the lowest level since 17 April, as weakness in the Capesize segment continued to weigh on the broader market.

Segment-wise performance

• Capesize: The Capesize index fell 3.1% (123 points) to 3,827 points, pressured by softer iron ore and coal cargo demand, particularly in the Pacific, amid limited fresh cargo enquiries and cautious chartering activity.
  
  
• Panamax: The Panamax index rose 1.2% (25 points) to 2,096 points, supported by steady grain and coal shipments, with improved cargo demand providing resilience despite broader market weakness.
  
  
• Supramax: The Supramax index declined 0.9% (15 points) to 1,678 points, reaching its lowest level since 15 June, amid subdued regional activity and limited fresh fixtures.
  
  

Outlook

The BDI is likely to trade with a mixed bias in the coming weeks, with market direction hinging on fresh iron ore cargoes from Australia and Brazil, grain export activity, and vessel availability across both the Pacific and Atlantic basins.

Cargo demand is expected to be the primary driver of market direction, while persistent geopolitical risks in the Middle East continue to pose upside risks to freight rates through higher insurance costs and potential vessel disruptions.