To FMIUG Dry users, FFABA Dry, BPI panellists, Clearing Houses

Re: Panamax reporting changes

As a result of recent Working Group meetings and with the support of the FFABA, FMIUG and Baltic Index

Advisory Council, the Baltic now proposes the following changes to the benchmark vessel and routes.

  • The new benchmark Panamax vessel will be a Tess 82 type.
  • There will be 5 T/C routes
  •  
    • P1A_82
    • P2A_82
    • P3A_82
    • P4_82
    • P6_82

(Please see attached file for more detail on the vessel specifications and route descriptions)

  • Trial reporting will commence 24 April 2017 on the new vessel and routes.
  • The Baltic will dual report on for a minimum of 12 months to gather data for analysis.
  • The aim is to transition to this new larger benchmark vessel and routes on a live basis in July 2018.
  • Also from July 2018 the intention is for existing Panamax 4TC FFA contracts to settle against a value that is based on the new routes, the differential (if any) will be calculated after analysis of the dual reporting data provided.

Please direct any questions to balticbroker@balticexchange.com