Independent information for the dry bulk market

Our daily spot market and forward assessments, market and fixture reports, weekly S&P and recycling and quarterly OPEX data provide the dry bulk market with a comprehensive, independent reference point.

Baltic Dry Routes

Click here to explore an interactive map of all our routes.

  • $ per day timecharter & $ per tonne voyage assessments
  • Capesize, Panamax, Supramax and Handysize
  • Historical data since 1985
  • Published throughout the global working day
Baltic Dry Index 1985 - 2020

Baltic Dry Index

The Baltic Dry Index (BDI) is a composite of the dry bulk timecharter averages and provides a continuous time series since 1985.

  • Baltic Capesize Index (40%)
  • Baltic Panamax Index (30%) 
  • Baltic Supramax Index (30%) 

Capesize Index

C2 - Tubarao to Rotterdam
C3 - Tubarao to Qingdao
C5 - West Australia to Qingdao
C7 - Bolivar to Rotterdam
C8_14 - Gibraltar/Hamburg transatlantic round voyage
C9_14 - Continent/Mediterranean trip China-Japan
C10_14 - China-Japan transpacific round voyage
C14 - China-Brazil round voyage
C16 - Revised backhaul
C17 - Saldanha Bay to Qingdao

5TC Weighted Timecharter Average: Sum(C8_14*0.25, C9_14*0.125, C10_14*0.25, C14*0.25, C16*0.125)  

Baltic Capesize Index (BCI): Sum(C8_14*0.030145, C9_14*0.0150725, C10_14*0.030145, C14*0.030145, C16*0.0150725) Baltic Capesize 2014 vessel for Timecharter routes is a non scrubber fitted vessel based on the following description:

180,000mt dwt on 18.2m SSW draft
Max age 10 yrs
LOA 290m, beam 45m, TPC 121
198,000cbm grain
14 knots laden / 15 knots ballast on 62mt fuel oil (380cst), no diesel at sea
12 knots laden / 13 knots ballast on 43mt fuel oil (380cst), no diesel at sea

Panamax Index

P1A_82 - Panamax Skaw-Gib transatlantic round voyage
P2A_82 - Panamax Skaw-Gib trip to Taiwan-Japan
P3A_82 - Panamax Japan-S Korea Transpacific round voyage          
P4_82 - Panamax Japan-S Korea trip to Skaw Passero      
P5_82 - Panamax South China, Indonesian round voyage (BEP Asia)          
P6_82 - Panamax Singapore round voyage via Atlantic    
P7 - Panamax USG to Qingdao grain  66,000 MT          
P8 - Panamax Santos to Qingdao grain 66,000 MT     
P1A_03 - Panamax 74 Skaw-Gib transatlantic round voyage 74,000 MT      
P2A_03 - Panamax 74 Skaw-Gib trip to Taiwan-Japan 74,000 MT   
P3A_03 - Panamax 74 Japan-S Korea Transpacific round voyage 74,000 MT

5TC Weighted Timecharter Average: Sum(P1A_82*0.25, P2A_82*0.1, P3A_82*0.25, P4_82*0.10, P6_82*0.30) 

Baltic Panamax Index (BPI): Sum(P1A_82*0.027777775, P2A_82*0.01111111, P3A_82*0.027777775, P4_82*0.01111111, P6_82*0.03333333)  

Baltic Panamax vessel for Timecharter routes is a non-scrubber fitted vessel based on the following description:

82,500mt dwt on 14.43m SSW draft
Max age 12 yrs
LOA 229m, beam 32.25m, TPC 70.5
97,000 cbm grain
13.5 knots laden on 33mt fuel oil (380cs t) / 14 knots ballast on 31mt fuel oil (380cs t) + 0.1 MGO at sea
11.5 knots laden on 22mt fuel oil (380cs t) / 12.5 knots ballast on 23mt fuel oil (380cs t) + 0.1 MGO at sea

Supramax Index

S1B_58 - Canakkale trip via Med or Bl Sea to China-South Korea
S1C_58 - US Gulf trip to China-south Japan
S2_58 - North China one Australian or Pacific round voyage
S3_58 - North China trip to West Africa
S4A_58 - US Gulf trip to Skaw-Passero
S4B_58 - Skaw-Passero trip to US Gulf
S5_58 - West Africa trip via east coast South America to north China
S8_58 - South China trip via Indonesia to east coast India
S9_58 - West Africa trip via east coast South America to Skaw-Passero
S10_58 - South China trip via Indonesia to south China

10TC Weighted Timecharter Average:  Sum(S1B_58*0.05, S1C_58*0.05, S2_58*0.20, S3_58*0.15, S4A_58*0.075, S4B_58*0.10, S5_58*0.05, S8_58*0.15, S9_58*0.075, S10_58*0.10)

Baltic Supramax Index (BSI): Sum(S1B_58*0.004545455, S1C_58*0.004545455, S2_58*0.018181818, S3_58*0.013636364, S4A_58*0.006818182, S4B_58*0.009090909, S5_58*0.004545455, S8_58*0.013636364, S9_58*0.006818182, S10_58*0.009090909) Baltic Supramax vesssel for Timecharter routes is based on a non-scrubber fitted standard “Tess58 ” type vessel of the following description:

58,328mt dwt on 12.80 m ssw
Max age 15 yrs
LOA 189.99m, beam 32.26m, TPC 57.5
72,360 cbm grain / 70,557 cbm bale
5 holds/hatches
4 x 30t Cr + 12 cbm grabs
14 knots laden on 33mt fuel oil (380cst) / 14 knots ballast on 32mt fuel oil (380cst), no diesel at sea
12 knots laden on 24mt fuel oil (380cst) / 12.5 knots ballast on 23mt fuel oil (380cst), no diesel at sea

Handysize Index

HS1_38 - Skaw-Passero trip to Rio de Janeiro-Recalada
HS2_38 - Skaw-Passero trip to Boston-Galveston
HS3_38 - Rio de Janeiro-Recalada trip to Skaw-Passero
HS4_38 - US Gulf trip via US Gulf or north coast South America to Skaw-Passero
HS5_38 - South East Asia trip to Singapore-Japan
HS6_38 - North China-South Korea-Japan trip to North China-South Korea-Japan
HS7_38 - North China-South Korea-Japan trip to south east Asia

7TC Weighted Time Charter Average:  Sum(HS1_38*0.125, HS2_38*0.125, HS3_38*0.125, HS4_38*0.125, HS5_38*0.20, HS6_38*0.20, HS7_38*0.10) 

Baltic Handysize Index (BHSI): Sum(HS1_38*0.006944444, HS2_38*0.006944444, HS3_38*0.006944444, HS4_38*0.006944444, HS5_38*0.011111111, HS6_38*0.011111111, HS7_38*0.005555556) Baltic Handysize 38 vessel for Timecharter routes is a non-scrubber fitted vessel based on the following description:

Singledeck self trimming geared bulk carrier
38,200mt dwt on 10.538m SSW
Max Age 15 Years
LOA 180m / Beam 29.8m / TPC 49
47,125 cbm grain / 45,300 cbm bale
5 holds / 5 hatches
4 x 30 ton cranes
Speed & consumptions including main engine & auxibrary engines:
14 knots on 26mt IFO (380 CST) laden/24mt IFO (380 CST) ballast + 0.1 MDO at sea
12 knots on 18mt IFO (380 CST) laden/17mt IFO (380 CST) ballast + 0.1 MDO at sea

Sale & Purchase

Weekly assessments for a five-year old vessel type for:

  • Capesize (180,000 dwt)
  • Panamax (82,500 dwt)
  • Superhandy (Tess 58 type)
  • Handysize (38,200 dwt)


Weekly assessments of in US $/Lightweight for dry bulk carriers.

Delivery in Bangladesh, India & Pakistan.

  • Large bulk carrier 20,000+ LDT
  • Medium bulk carrier 9,001 - 20,000 LDT
  • Small bulk carrier 5,000 - 9000 LDT 


A quarterly index tracking the daily vessel operating costs for Capesize, Panamax, Supramax and Handysize vessels.

The Baltic Operating Costs Index – Dry (DOPEX) is calculated using crewing, technical and insurance costs. Published quarterly, the assessment is based on assessments by leading third party ship managers.

A five-year old dry dock cost, amortised over five years, is published separately.


Track Dry vessel operational costs with our quarterly assessments

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Fixtures and market reports

The Baltic Exchange's team of freight market reporters in London and Singapore produces a daily fixture list and daily news round-up for the dry bulk market.

Our comprehensive fixture list can be readily integrated with users’ systems and provides historical data and contains around 90,000 fixtures.