The Baltic Dry Index (BDI) is the most-quoted barometer of dry bulk freight, but the headline number hides a lot. Reading it well means looking through to its sub-indices and the forces beneath them.

What the BDI is made of

  • Capesize — the largest ships, dominated by iron ore and coal.
  • Panamax — mid-size, often grain and coal.
  • Supramax/Handysize — smaller, more diversified cargoes.

Because the BDI is a spot composite, it reacts fast but noisily. Forecasting models treat it — and its sub-indices — as one leading signal among trade flows, supply and fuel, which is how NAVGreen turns it into a forward view rather than a rear-view mirror.