Baltic Exchange Circular 18/17 (7 April 2017)

 

New Panamax voyage grain route

At the last Panamax Working Group meeting, it was noted that grain volumes have been increasing year on year and now form a substantial part of trading patterns. There was a request that the Baltic Exchange assess and report on a grain voyage route.  

After initial investigation it is not clear whether to report on a route basis loading the US Gulf or Brazil. Therefore The Baltic would appreciate your comments and feedback on the below proposed route descriptions.

  • Mississippi river to Qingdao. 66,000mt HSS, 10% more or less in owner’s option, free in and out, trimmed. 10,000mt Saturdays, Sundays + holidays excluded loading, 8,000mt Saturdays, Sundays + holidays excluded discharge. 24 hrs turn time at loading port, 24 hrs turn time at discharge port. Loading  10/20 days from index date. Age max 15 years. 5% total commission.[routing is via Cape of Good Hope]
  • Santos to Qingdao. 66,000mt HSS, 10% more or less in owner’s option, free in and out, trimmed. 8,000mt Saturdays, Sundays + holidays excluded loading, 8,000mt Saturdays, Sundays + holidays excluded discharge. 24 hrs turn time at loading port, 24 hrs turn time at discharge port. Loading  10/20 days from index date. Age max 15 years. 5% total commission.

We would appreciate your comments and feedback prior to 25 April 2017 in order to make a suitable recommendation to the Baltic Index Council (BIAC).

Questions:

–       Which route is preferred? USG loading or Santos?

–       One additional route or both?

–       Route descriptions are correctly reflecting the trade

If there is good consensus regarding this proposal and provided the Index Council give the go ahead then the intention would be to engage the panelists with a target of trial reporting within May 2017.

Any comments or suggestions should be referred to balticbroker@balticexchange.com