Baltic Dry Index retreats as softer chartering activity weighs on sentiment

• Index reverses recent recovery, as all vessel segments decline
  
  
• Easing Pacific activity weighs on Capesize rates despite firm iron ore trade
  
  

The Baltic Exchange's Dry Bulk Index (BDI) declined by 1.4% (38 points) to 2,684 points on 22 June 2026 against 19 June, as weakness across all vessel segments outweighed the recent recovery driven by Capesize vessels. Additionally, cautious chartering activity and limited fresh cargo enquiries weighed on sentiment at the start of the week.

Segment-wise performance

• Capesize: The Capesize index decreased by 1.8% (75 points) to 4,074 points. Despite the decline, the segment continued to draw support from iron ore and coal shipments, although the momentum seen late last week faded amid softer chartering interest and easing Pacific activity.
  
  
• Panamax: The Panamax index declined by 1.8% (37 points) to 2,059 points. Freight sentiment remained subdued due to weak coal and grain demand, with ample vessel availability and limited fresh enquiries exerting pressure on earnings.
  
  
• Supramax: The Supramax index slipped 0.2% (3 points) to 1,715 points. The segment remained largely stable, supported by steady minor bulk cargo movements, although overall market activity stayed muted.
  
  

Outlook

Baltic index sentiment may remain mixed, with the larger vessel segment continuing to provide some support amid resilient iron ore trade. However, weak Panamax fundamentals, cautious chartering activity, and limited cargo demand across regions are likely to keep freight rates under pressure in the near term.