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Baltic Exchange

Capesize Bunker Consumption: Baltic Exchange Issues Brokers Guidance

Capesize Bulk Carrier: Photo courtesy of K-Line

The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further guidance on the way in which they assess the capesize market. The move has followed extensive market consultation and reflects the need for greater precision on the slow steaming characteristics of the Baltic capesize vessel type. The Chairman of the Baltic Exchange’s Freight Indices & Futures Committee Guy Campbell said: “This guidance does not imply any change to the index definition. Our timecharter rates are assessments of the prevailing market for the Baltic reference vessel on the defined route. Slower speeds are currently the norm, so we are providing panellists with the information they need to allow their assessments to accurately reflect the market.” Users of Baltic information should note that the Baltic Exchange already expects panellists reporting timecharter routes to consider prevailing market conditions. This includes consideration of comparable fixtures concluded, as well as the likely steaming speed and consumption of the Baltic defined vessel in the prevailing environment for freight rates and bunker costs.


Baltic Exchange Appoints Jones A-P Director, Singapore

Christopher Jones: Photo courtesy of Baltic Exchange

Jones joins the Baltic Exchange from ICAP Shipping Singapore where he was director of sale & purchase. He will replace Philip Williams who retires from the role in April, and he 
will be based at the Exchange's Singapore office. Baltic Exchange Chief Executive Jeremy Penn said:

 “We’re delighted to welcome Chris Jones to the team. The Baltic Exchange’s presence has grown significantly in Asia with our Singapore office leading the drive


New Book on Legal Aspects of Bunkering

Legal Issues Cover.jpg

Petrospot Limited has recently published Legal Issues in Bunkering: An Introduction to the Law Relating to the Sale and Use of Marine Fuels: a new book by barrister and legal consultant Trevor Harrison. The book offers an accessible overview of the legal aspects of bunkering, distilling salient points and summarizing the more arcane elements of the subject. The book is not intended as a substitute for professional help or casebooks on shipping law


Iron-Ore Ship Rates Rise as China Spends

Iron-Ore carrier daily rates rebound as China spends US$158-billion. Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program, reports Bloomberg Business News. Capesizes, each carrying 160,000 metric tons of ore, will earn $12,500 a day in the fourth quarter


Watch Analysts Discuss April Tanker Market Activity

Video image: Credit McQuilling

Marine services company McQuilling draw attention to an opportunity to watch a video of their analysts discussing the April 2014 tanker spot market activity. The video is available at: http://bit.ly/1qxOVG5 About McQuilling McQuilling is a privately-owned marine services company, providing transportation services to clients in the shipping, commodity and financial services industries.  It represents broad commercial experience and is one of the few firms that sit on both the


SSA on SGX/Baltic Exchange Talks

Courtesy SSA

Members of the Singapore Shipping Association (SSA) have read with interest the recent announcement by the Singapore Exchange Ltd (SGX) in its bid to acquire the Baltic Exchange.   Mr Esben Poulsson, President of SSA said: “We understand that for some time, the Board of the Baltic Exchange, which traces its origins back to 1744, has been considering a number of strategic options regarding future ownership of this venerable institution


Arabian Gulf Tanker Rates Decline

According to a Jan. 8 Report from Bloomberg, the cost of shipping Middle East crude oil to Asia, the world’s busiest route for supertankers, declined on a surplus of vessels for hire. Charter rates for very large crude carriers, or VLCCs, on the industry’s benchmark Saudi Arabia to Japan voyage declined 0.3 percent to 49.69 Worldscale points, according to the London based Baltic Exchange. (Source: Bloomberg)


Charter Party Laytime Definitions Updated

Uncertainties in laytime definitions currently used in charter parties have been addressed in the latest Laytime Definitions of Charter Parties 2013, created by a shipping industry working group consisting of BIMCO, the Baltic Exchange, Comitė Maritime International (CMI) and the Federation of National  Associations of Shipbrokers and Agents  (FONASBA). The new document sets out statements of meaning of words and phrases commonly used in the context of laytime and reflects


Baltic Freight Index up on Higher Dry Bulk Activity

Reuters - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 19 points to 1,562. The Baltic's capesize index rose 43 points or 1.4 percent to 3,023 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal


Baltic Index Retreats with Falling Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Wednesday.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 3 points, or 0.53 percent, to 565 points.   The Baltic's capesize index fell 26 points, or 5.69 percent, to 431 points.   "A cyclone outside Australia is threatening to close the Dampier port and as a


Baltic Index Inches up on Higher Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday, supported by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Stronger Capesize Demand Boosts Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, primarily helped by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Up on Firmer Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by stronger demand for capesizes and smaller shipping vessels.   The overall index, which factors in rates for capesize, panamax


Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Reaches Four Month High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to its highest level in four months on Friday, backed by an upswing in demand across vessel segments headed by capesizes.   The overall index, which factors in rates for capesize


Baltic Index Up for Twelfth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for the twelfth consecutive session, supported primarily by stronger demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax


Baltic Index up on Improved Vessel Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged higher on Tuesday on steady demand across vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Firm Vessel Rates Boost Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on higer rates for panamaxe and smaller vessel categories.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Stronger Demand for Bigger Vessels Pushes Baltic Index Higher

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities extended gains on Thursday, mainly propelled by firmer demand for bigger shipping vessels.   The overall index, which factors in rates for capesize, panamax


Stronger Capesize Rates Perks Up Baltic Index

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose on Friday, supported primarily on improved demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises on Firmer Vessel Rates

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, was up on Monday, on stronger demand across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 24 points


Baltic Index Rises to Five-month High

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, on Tuesday rose to its highest in over five months on improved rates across vessel segments.   The overall index, which factors in rates for capesize, panamax


Asia Dry Bulk-Capesize Market Direction Uncertain

A so-called ValeMax bulk carrier. These vessels were built primarily to carry iron ore from Brazil to the far east. (image: Vale)

Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates


Baltic Index Up Slightly as Smaller Vessels Support

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose marginally on Thursday as steady demand for smaller vessels offset weaker rates across capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax


Baltic Index Up On Stronger Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday due to higher demand for capesizes and gains across smaller vessel segments.   The overall index, which factors in rates for capesize, panamax






 
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