2026.03.0216:09:27UTC+00Baltic Dry Index Climbs to Over 2-Month High

The Baltic Exchange’s dry bulk index, which tracks freight rates for vessels carrying dry commodities, rose for a second consecutive session on Monday, gaining 2.2% to 2,187 points—its highest level since December 16. All vessel segments recorded increases, as investors priced in expectations of higher freight rates amid the ongoing Iran conflict and reduced export volumes from key suppliers.

Major container shipping companies have suspended transits through the strategically important Strait of Hormuz, rerouting vessels around the Cape of Good Hope at Africa’s southern tip. The shift follows US and Israeli strikes on Iran over the weekend.

The capesize index, reflecting rates for larger vessels that typically carry 150,000-ton cargoes of iron ore and coal, advanced 2.5% to 3,133 points. The panamax index, which tracks ships that usually transport 60,000 to 70,000 tons of coal or grain, rose 1.9% to 1,979 points. Among smaller vessel classes, the supramax index gained 1.7% to 1,361 points.