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

By Katharine Gemmell

May 7, 2026 (Bloomberg) –A key measure of bulk-shipping rates jumped to the highest level since December 2023, driven by rising demand for Capesize vessels along with tightening supply of ships that haul bulk commodities.

The Baltic Dry Index surged 5.6% to 2,991 points on Wednesday, extending gains for a fourth session. The gauge tracks freight rates for Capesize, Panamax, and Supramax ships transporting raw materials such as iron ore, coal and grain.

The Capesize market has “strengthened sharply over the past two weeks” on tightening ship availability in the Pacific, disruptions to iron ore exports from Brazil, and