Baltic Dry Index Edges Up to 2,791 as Handysize Rates Hit a Three-Week High

The Baltic Dry Index (BDI) added 15 points on Thursday to close at 2,791, up 0.5% and snapping a three-day losing streak. The gain was led by two segments moving in the same direction for once: Capesize, which continued to claw back some of Tuesday’s sharp correction, and the Handysize freight market, which quietly climbed to its best level in three weeks. Panamax was the lone segment to lose ground.

Capesize and Handysize Lead the Gains

The Baltic Capesize Index (BCI) rose 53 points, or 1.2%, to 4,429, with average daily earnings for capesize bulk carriers up around $486 to roughly $40,170. That is a partial recovery from Tuesday’s 3.0% drop rather than a full reversal, and the Atlantic-Pacific split we have been tracking all week is still in play. More notable was the Baltic Handysize Index (BHSI), which climbed 4 points to 871 — its highest close in three weeks — with average daily earnings up to about $15,670. Steady grain and minor bulk demand out of the Atlantic has been the quiet story of the week while attention stayed on Capesize, and it is worth keeping an eye on for clients active in the smaller fleet segments.

Panamax the Lone Laggard

The Baltic Panamax Index (BPI) slipped 19 points, or 0.9%, to 2,088, with average daily income easing to around $18,790. The Baltic Supramax Index (BSI) was essentially flat, up 3 points to 1,637. Panamax has now traded lower on three of the last four sessions, a softer run than the rest of the market, and it is the segment we would flag as the one to watch into next week if grain demand out of the Atlantic does not pick back up.

Bunker Costs Mixed — Piraeus Drops Sharply

Bunker prices were mixed across hubs. VLSFO in Rotterdam firmed to $677.50 (+$5.00) and Fujairah to $825.00 (+$3.50), while Singapore eased slightly to $833.00 (-$3.00). The standout move was Piraeus, where VLSFO dropped $27.00 to $802.50 — a sharp one-day correction after a run of gains through the week, and a reminder of how quickly Mediterranean bunker pricing can swing. For voyage cost planning on time charter business touching the Med, that kind of move is worth checking on the day of fixing rather than relying on a snapshot from earlier in the week.