Dry-Bulk Shipping Rates Hit Two-Year High on Capesize Demand
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Dry-Bulk Shipping Rates Hit Two-Year High on Capesize Demand

07.05.2026
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The key dry bulk freight rate indicator surged to its highest level since December 2023, driven by rising demand for Capesize vessels amid tightening supply in the dry bulk shipping market.
 
On Wednesday, the Baltic Dry Index jumped 5.6% to 2,991 points, extending gains for a fourth consecutive session. The index tracks freight rates for Capesize, Panamax, and Supramax vessels transporting commodities such as iron ore, coal, and grain.
 
The market for Capesize vessels has “strengthened sharply over the past two weeks” amid reduced vessel availability in the Pacific, disruptions to iron ore exports from Brazil, and hedging activity in future freight rates, said Pranay Shukla, head of dry bulk shipping and commodities research at S&P Global Energy.
 
According to S&P Global Energy, strong dry bulk export activity seen in April is expected to continue through this month and into June. The Capesize segment accounts for about 40% of the Baltic Dry Index and is the category most heavily influenced by iron ore demand for steel production.
 
Source: Bloomberg
 
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