Latest data shows that the Baltic Dry Index (BDI) was at 1955 points on February 4, 2025, a new low since January 26, 2025, down 3.60% month-on-month (compared to the previous value), marking the third consecutive day of decline (including zero growth). Looking at the short-term charts, the recent 11 BDI data points show: 6 positive increases, 5 negative increases, and 0 zero increases. Specifically, the Panamax Freight Index (BPI) was at 1685 points, down 2.26% from the previous value; the Capesize Freight Index (BCI) was at 2994 points, down 5.70%; and the Supramax Freight Index (BSI) was at 1092 points, up 0.83%. For detailed 720-day and 10-year trend charts of the Baltic Dry Index and its three main sub-indices, please refer to the specially designed charts.



The Baltic Dry Index, a core indicator for measuring global dry bulk commodity shipping rates, fell to its lowest level in more than a week on Wednesday, mainly dragged down by the continued decline in freight rates for Capesize and Panamax vessels, putting downward pressure on the overall dry bulk freight market.

The Baltic Dry Index (BDI), which tracks freight rates for Capesize, Panamax, and Supramax vessels, fell sharply by 73 points, or 3.6%, to close at 1955 points. This closing level is the lowest since January 26, 2026, and also marks the third consecutive trading day of decline for the index, indicating a continued weak trend.

In terms of specific ship type indices, the Capesize freight rate index, which represents large dry bulk carriers, saw the most significant decline, plunging 181 points in a single day, a drop of over 5.7%, closing at 2994 points, becoming the main factor dragging down the overall index.

Capesize vessels are the mainstay of the dry bulk shipping sector, typically carrying 150,000 tons of bulk dry cargo such as iron ore and coal. Their average daily profit has declined sharply by $1,635, with daily profit dropping to $23,653, resulting in a significant reduction in the operating income of ship owners.

Commodity prices weakened across the board, with iron ore futures prices on the Dalian Commodity Exchange declining slightly. Against the backdrop of slowing downstream demand, overall market sentiment remained weak, which further impacted dry bulk shipping and suppressed freight rates for iron ore-related vessel types.

The Panamax freight index also recorded a decline, falling slightly by 39 points, or 2.3%, to close at 1685 points. These vessels mainly carry 60,000 to 70,000 tons of bulk cargo such as coal and grain. Their average daily earnings decreased by $349, with the latest average daily profit at $15,166. The profit margin for medium-sized dry bulk carriers has also narrowed.

In contrast to the trend of large vessels, the small dry bulk shipping sector showed relative resilience: the Supramax freight rate index rose against the trend by 9 points, an increase of 0.8%, closing at 1092 points, showing an independent slight upward trend in the overall weak market.