Baltic index hits over one-week high, buoyed by stronger capesize earnings

Fortescue

02/07/2026 13:34

July 2 (Reuters) - The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose to its highest level in more than a week on Thursday with capesize vessel rates leading gains after iron ore prices rose on concerns over tighter supply in China. 
The main Baltic index .BADI, which tracks rates for capesize, panamax and supramax vessels, added 88 points, or 3.4%, to reach 2,650, its highest since June 24.
The capesize index .BACI was up 229 points, or 6.2%, at 3,921.
Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes including iron ore and coal, increased $2,079 to $32,060.
Iron ore futures climbed after China restricted deliveries of some Fortescue FMG.AX products to certain domestic steel mills, tightening supply in the world's largest market for the steelmaking ingredient. IRONORE/
The panamax index .BPNI rose 18 points, or 0.8%, to 2,195.
Average daily earnings for panamax vessels .BPWT, which usually carry 60,000 to 70,000 tons of coal or grain, gained $167 to $19,758.
Among smaller vessels, the supramax index .BSIS was up 2 points, or 0.1%, at 1,675.

 (Reporting by Sumit Saha in Bengaluru; Editing by Shailesh Kuber)
 ((Sumit.Saha@thomsonreuters.com;))