The recent implementation of US sanctions on exports of crude from Venezuela and the continued unstable situation are impacting the trade volumes and ability for the Panellists to mark route TD9 (70,000mt Puerto la Cruz to Corpus Christi). The Baltic Index Council has approved an emergency change to the load port which from Monday 11 February will be Covenas (Colombia).
 
As a result of this change, we will suspend publishing the TCE for TD9 on the current description until we have established a TCE on the new description.
 
As there is no FFA open interest, we will also suspend publishing the TD9 forward curve.
 
The revised route description will be:
 
TD9
70,000mt. Caribbean to US Gulf (Covenas to Corpus Christi). Laydays/cancelling 7/14 days from index date. Age max 15 yrs. Assessment basis Oil Pollution Act premium paid. 2.5% total commission.
 
Any feedback from members is extremely welcome – please send this to balticbroker@balticexchange.com