The Baltic Dry Index (BDI) closed at 2,675 on Friday, May 16, 2026, holding above the 2,600 level for the third consecutive week as the dry bulk freight market consolidates gains made during April's sharp rally.
The Capesize index (BCI) eased marginally to 4,356 from last week's multi-month high, while the Panamax index (BPI) stabilised at 1,971 following a period of softness driven by reduced US Gulf grain activity.
The Supramax segment was the week's standout performer, with the BSI advancing 2.84% to 1,484 as demand firmed across Indian Ocean grain routes and steel product trades from Southeast Asia. The Handysize index (BHSI) also edged higher at 781, supported by regional agri-commodity flows in the Atlantic.
Market participants are closely watching Chinese steel mill margins, which have recovered modestly from April lows, and Brazilian iron ore export volumes from Vale's northern system — the key swing factor for Capesize earnings heading into Q3 2026.
The BDI's ability to sustain levels above 2,600 for three consecutive weeks suggests the April rally was not purely speculative. Fundamentally, iron ore port inventories at Chinese steel mills have drawn down meaningfully, and restocking demand is expected to support Capesize rates through June.
Track the Baltic Dry Index daily on BalticDryIndex.com — including interactive historical charts, vessel class guides, shipping calculators and market analysis.
Source: Baltic Exchange · 16 May 2026 · Data indicative only, not financial advice.