To all Dry Users, FFABA, Clearing Houses, BIC

 

Capes

  • The last publication day of the derived Cape 4TC will be 22 December 2017. 
  • The differential of $1,064 remains the same and the open interest settlement will be calculated on this basis.

Panamax

  • Public Trial of the Tess 82 and new routes is currently running. Subject to no further alteration we will seek Baltic Index Council (BIC) approval in October. 
  • If that is granted, dual reporting would commence shortly after. A minimum period of 12 months dual reporting on both vessel sizes will follow.
  • Pending approval from the Baltic Index Council we will start private trial reporting for two new grain routes
  1. US Gulf load for China discharge
  2. Santos load for China discharge
  • Consultation with the market to publish the Panamax indices at 11:00 (currently published at 1300) London. Feedback welcomed.

Supramax

 

  • The derived 6TC value will continue to be calculated using the Vessel Differential Factor (VDF) until 21 December 2018.
  • The  forward curve for the 6TC will be continue to be assessed and published until 21 December 2018.
  • From 2 Jan 2019 subject to Baltic Index Council (BIC) approval a fixed rate differential will be applied to derive the 6TC Index and Forward curve from the Tess 58 10TC. 
  • The fixed rate differential will be the average of the difference over the full 2018 between the derived 6TC and the Tess 58 10TC index

Handy

 

  • Approval for a Public Trial of the Imabari 38 and 7 TC routes will be sought from the BIC in October.
  • The same process per the Panamax trial will apply i.e. a minimum period of 12 months dual reporting.

Any questions or comments should be directed to balticbroker@balticexchange.com