Baltic Capesize Index to be Amended
Independent source of maritime market information for the trading and settlement of physical and derivative contracts, London's Baltic Exchange says it will be making changes to the Baltic Capesize Index including a change to its vessel description, amends to the route weightings and the addition of three new routes on 6 May 2014.
The move follows a trial which began in February and formal consultation with the dry bulk market.
The existing routes and new routes will be published side-by-side until there is no further open interest in either Forward Freight Agreements (FFAs) or options to be settled.
The basis of the new Baltic Exchange capesize vessel description will be:
- 180,000mt dwt on 18.2m SSW draft
- Max age 10 years
- 198,000cbm grain
- LOA 290m Beam 45m
- 15 knots ballast/14 knots laden on 62mt fuel oil (380 cst), no diesel at sea
- When considering the prevailing timecharter market rate for the Baltic capesize vessel, panellists should assume that, if steaming at 12 knots laden or 13 knots ballast, the vessel will consume 43mt fuel oil, no diesel at sea
Details of the changes, including route amendment and details of new routes are at: www.balticexchange.com