BALTIC LAUNCHES TRIAL HANDYSIZE INDEX
The Baltic Exchange begins publishing a new trial index covering the handysize vessel market tomorrow (23 May). Derived from timecharter assessments made by a 14 strong panel of shipbroking companies, the twice weekly index is based on a generic Baltic type (28000 dwt).
The Baltic Exchange Handysize Index (BHSI) will be based on the following:
28,000 mt dwt self trimming single deck bulkcarrier on 9.78m ssw 169m loa 27 m beam. 5 holds/5 hatches. 37,523 cum grain 35,762 cum bale 14 knots average laden/ballast on 22 mt ifo (380) no diesel at sea. 4 x 30 t cranes. Maximum age 15 years.
Route 1: Dely Skaw Passero for a trip about 35/45 days, redelivery Recalada Rio de Janeiro range. 5%. Laycan 5/10 days in advance.
Weighting 12.5%
Route 2: Dely Skaw - Passero range for a trip about 35/45 days, redelivery Boston Galveston range. 5%. Laycan 5/10 days in advance.
Weighting 12.5%.
Route 3: Dely Recalada Rio de Janeiro for a trip about 35/45 days, redelivery Skaw Passero range. 5%. Laycan 5/10 days in advance.
Weighting 12.5%.
Route 4: Dely US Gulf for a trip about 35/45 days, via US Gulf or NC South America, redelivery Skaw Passero range. 5%. Laycan 5/10 days in advance.
Weighting 12.5%
Route 5: Dely SE Asia for a trip via Australia, about 25/30 days, redelivery Singapore Japan range including China. 5%. Laycan 5/10 days in advance.
Weighting 25%.
Route 6: Dely S Korea Japan range for a trip via Nopac of about 40/45 days, redelivery Singapore-Japan range including China. 5%. Laycan 5/10 days in advance.
Weighting 25%
The index will be published on Tuesdays and Thursdays at 1300 (London).
Welcoming the new trial index, the chairman of the Baltics Freight Market Information Users Group (FMIUG) Sacha Konan of Cargill said:
"I am grateful that the Baltic responded so quickly to the users in providing a benchmark assessment for handysize vessels. A broad acceptance of this new index will provide shipowners, operators, industrial users and traders alike with the opportunity to use FFA's to manage their price risk."
Baltic Exchange chief executive Jeremy Penn said:
After extensive consultation with the market, we believe that this index could prove to be very popular. Accurate reporting on smaller size dry cargo vessels is needed and we are confident that our strong panel of shipbrokers will provide owners, charterers and traders with a strong, independent benchmark mechanism.
The BHSI will be based on assessments made by the following shipbroking companies:
Anchor Cross, Angus Graham, Braemar (Melbourne), Clarksons, Lawrence Chartering, Lightship, Fearnleys, Galbraiths, Howe Robinson, JE Hyde, Rigel Shipping, Simpson Spence & Young, Vogeman and Yamamizu Shipping.
Further companies will be added to the panel in the near future.
ENDS
For further details contact Bill Lines.
Navigate PR
T: +44 (0)20 7369 1653
Note to Editors
The Baltic Exchange
The Baltic Exchange is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 500 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic.
Baltic Exchange members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels. Commissions from chartering and sale and purchase in 2004 amounted to more than US$½ billion.
Baltic Exchange services
Independent, high quality dry, wet and gas freight market information
Self-regulated chartering, sale and purchase and freight derivatives markets
Central forum for competing freight market interests
Framework ensuring high standards of business practice and co-operation
London-based business facilities for members
A collective voice for members worldwide
Shipping market information
The Baltic Exchange provides the shipping market with the following information:
Seven daily indices covering capesize, panamax, supramax, handy dry bulk carriers and tankers carrying clean and dirty products
Over 50 separate route assessments
Mark-to-market information
Four dry cargo reports
Second-hand ship values
Ship demolition values
Daily dry cargo fixture list
