Baltic Dry Index Climbs to 2,712 as Capesize Extends Its Rebound: Market Insight, 30 October 2026
The Baltic Dry Index closed Thursday, 29 October 2026, at 2,712 points, up 60 points on the day, as the Capesize segment extended its recovery while the geared sizes drifted lower. The figures below refer to the 29 October close; the 30 October print was not yet confirmed at the time of writing.
Baltic Indices: Close of 29 October 2026
| Index | Close | Daily change | Average daily earnings |
|---|---|---|---|
| BDI | 2,712 | +60 (+2.3%) | n/a |
| BCI (Capesize) | 4,090 | +204 (+5.2%) | $37,095 (+$1,850) |
| BPI (Panamax) | 1,921 | -44 (-2.2%) | $17,289 (-$397) |
| BSI (Supramax) | 1,870 | -8 (-0.4%) | $23,641 (-$92) |
| BHSI (Handysize) | 1,015 | -2 (-0.2%) | $18,274 (-$30) |
Capesize earnings have now risen for two consecutive sessions and sit more than $3,000 per day above the $33,575 level seen on 27 October. The BDI has recovered to within reach of the 2,700 area, but the gain remains entirely a Capesize story: Panamax earnings have fallen below $18,000 per day, and both Supramax and Handysize are sliding in small steps.
Capesize: Pacific Support, Atlantic Caution
For the latest full week of reported Capesize fixing (19-23 October 2026), the Pacific led the recovery on renewed operator demand and miner participation, with C5 (West Australia to Qingdao) moving from the low $12s to the $14.15-14.25 per tonne range by midweek. C3 (Tubarao to Qingdao) advanced from the low $31s to $34.00-34.50 per tonne, although a rumoured fixture at $33.25 for mid-November dates tempered sentiment towards the end of that week. The North Atlantic remained comparatively subdued, with limited transatlantic enquiry.
The 5TC average rose from $30,518 on Monday 19 October to $34,380 by Friday 23 October and has since added roughly $2,700 per day to $37,095. Charterers are increasingly focused on end-November and November-December split dates, which keeps forward bids supportive for owners with prompt tonnage.
Panamax, Supramax and Handysize
Panamax remains the weak spot. The Atlantic is oversupplied with tonnage and short of grain and mineral cargoes, and the BPI has now fallen every session this week. The Pacific is holding up better, helped by Australian demand and balanced conditions in Indonesia. Supramax earnings are steady near $23,600 per day, supported by firm Asian backhaul business, while Handysize is flat around $18,300 per day, with the South Atlantic the strongest region.
Bunker Prices: 29 October 2026
| Port | VLSFO ($/mt) | Change | MGO ($/mt) | Change |
|---|---|---|---|---|
| Singapore | 1,002.00 | +1.50 | 1,279.00 | -43.50 |
| Rotterdam | 778.00 | +8.00 | 1,427.00 | -11.00 |
| Fujairah | 984.00 | -5.50 | 1,697.00 | -17.50 |
VLSFO was broadly stable in Singapore and Fujairah, while Rotterdam firmed by $8. Marine gasoil fell in all three hubs, with Singapore down $43.50 on the day. The spread between VLSFO and gasoil remains very wide, which continues to reward scrubber-fitted tonnage and makes bunker clauses a live point in voyage and time charter negotiations.
Crude Oil
Brent is quoted at $117.12 per barrel at the time of writing. Elevated crude keeps bunker costs high and pushes net TCE-equivalent returns on long ballast legs below what headline earnings suggest, a factor that favours shorter, tighter voyages.
What We Are Watching
- Whether the Capesize recovery can hold into the weekly close, particularly Pacific iron ore volumes and end-November cargo cover.
- The C3 Tubarao-Qingdao differential against C5, and whether the Atlantic can regain momentum after a quiet transatlantic week.
- Panamax Atlantic tonnage supply and any pick-up in South American grain enquiry.
- Brent and the VLSFO/MGO spread, and their effect on voyage estimates and bunker adjustment clauses.
For tonnage or cargo enquiries, or for a view on how these levels affect a specific voyage, contact the Marcenta chartering desk.