Baltic Dry Index Slips to 2,511 on Capesize Weakness as Supramax and Handysize Edge Higher: Market Insight, 19 October 2026
The Baltic Dry Index closed at 2,511 points on Friday 16 October 2026, down 34 points on the day, as the capesize and panamax segments extended their retreat while the smaller geared sizes inched higher. The figures below reflect the latest published close, Friday 16 October.
Baltic Indices, 16 October 2026
| Index | Close | Change | Average daily earnings |
|---|---|---|---|
| BDI | 2,511 | -34 pts (-1.3%) | n/a |
| BCI (Capesize) | 3,249 | -73 pts (-2.2%) | $29,464/day (-$664) |
| BPI (Panamax) | 2,314 | -42 pts (-1.8%) | $20,827/day (-$373) |
| BSI (Supramax) | 1,865 | +9 pts (+0.5%) | $23,573/day (+$107) |
| BHSI (Handysize) | 1,011 | +4 pts (+0.4%) | $18,200/day (+$69) |
Capesize remained the drag. The BCI has now fallen in each session this week, from 4,148 on Monday to 3,249 on Friday, and the five-route time charter average has shed roughly $8,000 per day over the same stretch. Tonnage supply in both basins has been ample, with limited buying appetite from charterers keeping bids under pressure.
Capesize Routes
On the Pacific side, West Australia-Qingdao (C5) closed the week of 12-16 October at $11.70 per tonne. Fixtures slid from $13.40 early in the week to $11.25 by Thursday before the return of two miners on Friday gave owners some support and lifted the index back to $11.70. The Atlantic remained the weaker basin, with South Brazil and West Africa to China business concluded at progressively lower levels.
Bunker Prices, 16 October 2026
| Port | VLSFO ($/mt) | Change | MGO ($/mt) | Change |
|---|---|---|---|---|
| Singapore | 913.50 | +2.00 | 1,254.00 | -24.50 |
| Rotterdam | 740.50 | +5.00 | 1,392.50 | -2.50 |
| Fujairah | 967.00 | -3.50 | 1,606.50 | -117.50 |
VLSFO was mixed, firmer in Singapore and Rotterdam and softer in Fujairah. Distillates saw the sharper moves, with Fujairah MGO falling $117.50 on the day. The Singapore-Rotterdam VLSFO spread remains wide at roughly $173 per tonne, which continues to shape bunkering and routing decisions on long-haul voyages.
Crude Oil
Brent is trading at $107.18 per barrel at the time of writing. Elevated crude continues to support high bunker costs and keeps voyage economics firmly in focus for owners and charterers alike.
Market Development
Recent commentary on China points to iron ore imports running higher while domestic mining cools and steel production softens. That combination supports seaborne demand for the moment but leaves the capesize market exposed if steel output weakens further and port stocks build.
What We Are Watching
- Whether the C5 recovery on Friday holds as miners return, or fades again as it did the previous week.
- Atlantic capesize ballasters and November loading enquiry, which will determine if the C3 route finds a floor.
- Panamax Atlantic sentiment, where growing tonnage availability is offsetting a firmer Pacific.
- Supramax and handysize momentum, which has been quietly positive for several sessions.
- Brent and distillate pricing, particularly the volatility in Fujairah MGO.
The next index print will show whether capesize losses are slowing or whether the correction has further to run.