Industry information

Baltic Exchange Indices

The Baltic Exchange Handysize Index (BHSI) was formally launched in 2007 and is a measure of the strength of spot freight earnings for smaller dry bulk vessels, currently based on a standard 38,000 dwt bulk carrier (since 2 Jan 2020).

The Baltic Exchange Supramax Index (BSI) was officially launched in 2006 and is currently based on a standard 58,000 dwt bulk carrier.

The BHSI and BSI reflect average spot market TCE earnings across several representative routes.

The Baltic Exchange Dry Index (BDI) is the dry bulk freight market indicator comprising several key routes across the Capesize, Panamax and Supramax segments.

Key: BDI = Baltic Exchange Dry Index
BSI = Baltic Exchange Supramax Index
BHSI = Baltic Exchange Handysize Index

Baltic Indices

BHSI 38,000 BHSI 28,000 BSI BDI
% Net TC Avg* Net TC Avg* % Net TC Avg* Difference %
6-mths 628 14.5 - - 983 16.4 - 1681 196 11.7
3-mths 824 -12.7 - - 1483 -22.9 - 2240 -363 -16.2
1-mth 819 -12.2 - - 1432 -20.1 - 2295 -418 -18.2
1-wk 774 -7.1 - - 1308 -12.5 - 2121 -244 -11.5
 
17-Dec-25 774 - US$13,231 US$11,363 1308 - US$13,772 2121 - -
18-Dec-25 758 -2.1 US$12,959 US$11,091 1258 -3.8 US$13,177 2071 -50 -2.4
19-Dec-25 746 -1.6 US$12,760 US$10,893 1222 -2.9 US$12,737 2023 -48 -2.3
22-Dec-25 737 -1.2 US$12,598 US$10,730 1193 -2.4 US$12,397 1979 -44 -2.2
23-Dec-25 728 -1.2 US$12,456 US$10,589 1162 -2.6 US$12,020 1889 -90 -4.5
24-Dec-25 719 -1.2 US$12,292 US$10,424 1144 -1.5 US$11,806 1877 -12 -0.6

Source: The Baltic Exchange
* Net TC Average excludes 5% commission

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