Baltic Dry Index rises d-o-d as Capesize segment strengthen

• Firm Capesize market supports Baltic dry index uptick
  
  
• Robust Brazilian iron ore cargo volumes lent support to freight rates
  
  

The Baltic Dry Index gained by 0.16% (5 points) d-o-d to 3,063 on 12 May 2026, supported mainly by gains across the Capesize and Panamax segments. Also, recent market developments indicate strengthening momentum in the Baltic Dry Index, which has crossed the 3,000-point mark for the first time since late 2023, supported by firm Capesize and Panamax performance.

Strong Brazilian iron ore exports, improved tonne-mile demand, and healthier cargo activity across key dry bulk trade routes have continued to support freight sentiment.

Segment-wise Baltic Index trends:

• Capesize: BCI rose by 2.1% (106 points) to 5,082, driven by healthy iron ore cargo flows, improved fixture activity on key Brazil-China and Pacific routes, and relatively balanced vessel availability, which continued to support firm market sentiment.
  
  
• Panamax: BPI surged by 3.3% (77 points) to 2,360, backed by steady grain and coal demand alongside improving Atlantic fundamentals and better cargo visibility.
  
  
• Supramax: BSI up by 0.52% (8 points) to 1,535, with the segment remaining comparatively stable as balanced tonnage availability and moderate minor bulk demand kept sentiment cautiously firm.
  
  

Outlook: In the near term, the Baltic Dry Index is expected to remain firm, supported by healthy iron ore and coal cargo flows, improving fixture activity, and relatively balanced vessel availability across key trade routes.