Freight rate exposure through BDRY, alongside the equity basket carrying the fleets — Capesize to Supramax — that move iron ore, coal, and grain.
Near-dated Capesize, Panamax, and Supramax freight futures. The purest, unlevered way to trade the rate cycle without owning a vessel.
Tracks a rolling basket of Capesize, Panamax, and Supramax freight futures rather than equities — direct exposure to spot and forward charter rates, with none of the balance-sheet or newbuild risk that sits inside the operators below.
Six US-listed dry bulk owner-operators, weighted toward Capesize exposure with Panamax names rounding out the basket.
| Company | Last Snapshot | Div. Yield | Mkt Cap |
|---|---|---|---|
|
SBLK
Star Bulk Carriers Newcastlemax → Supramax · 136 vessels · Greece |
$28.00 | ~2.2% | ~$2.7B |
|
HSHP
Himalaya Shipping Newcastlemax (Capesize) · 12 LNG dual-fuel vessels · Bermuda |
~$14.77 | ~8.8% | ~$0.5B |
|
GNK
Genco Shipping & Trading Capesize / Ultramax · U.S. operator |
$25.22 | ~3–4% | ~$0.9B |
|
SB
Safe Bulkers Kamsarmax / Panamax · Greece |
~$6.80 | 3–6% | ~$0.6B |
|
DSX
Diana Shipping Panamax / Capesize · Greece |
~$2.40 | Variable | ~$0.3B |
|
SHIP
Seanergy Maritime Capesize (pure-play) · Greece |
~$17.49 | ~3% | ~$0.39B |
Two structural gauges worth watching alongside spot rates.
Yard capacity remains committed to container and gas carriers through 2028, keeping dry bulk newbuild deliveries scarce relative to the existing fleet.
A rising share of the global fleet is approaching scrapping thresholds — supportive of both charter rates and recycled steel flow.