BALTIC EXCHANGE LAUNCHES NEW INDIA/CHINA IRON ORE ROUTE
The Baltic Exchange has launched a new supramax route covering the ocean transportation of iron ore from east coast India to China. Published Monday – Friday at 1300 (London) and based on dollar assessments made by a panel of international shipbroking companies, the route has been under trial since July 2007.
Route description:
Route S7: Dely Cape Comorin / Haldia range including Sri Lanka for a trip of 20/30 days redelivery China. Laycan 5/10 in advance. Cargo basis iron ore or similar with 5% total.
Standard "Tess 52" type vessel with grabs as follows:
• 52,454 mt dwt self trimming single deck bulkcarrier on 12.02 m ssw
• 189.99 m LOA 32.26 m Beam 5ho/ha 67,756 cum.grain 65,600 cum.bale
• 14L /14.5B on 30mt (380 cst) no mdo at sea
• Cr 4 x 30 mt with 12 cum grabs
• Maximum age - 10 years
Route S7 will not contribute to the Baltic Exchange Supramax Index.
Launching the new route at the Baltic Exchange and FFA Brokers’ Association Asian Freight Derivatives Forum in Hong Kong today (Thursday) Baltic Exchange chief executive Jeremy Penn highlighted the growing range of services supplied by the Baltic Exchange to the Asian shipping markets.
“Today 27 of our 57 daily freight market assessments have an Asian element to them and we also provide Asian timezone reporting from our recently opened Singapore office.”
Jeremy Penn added:
“Asia is where we are seeing the fastest growth in Baltic Exchange membership and we will continue to support our members with an ever wider range of services.”
The Asian Derivatives Forum is the third such event organised by the Baltic Exchange this year and is focused on increasing understanding freight derivative trading issues in the Asia Pacific region. The event features speakers from Noble Group, BNP Paribas, Macquarie Bank and Pacific Basin.
Notes to editors
For further details please contact Bill Lines, Navigate PR
T: +44 (0)20 7369 1653
E: blines@navigatepr.com
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 550 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.
