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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.


Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. Founded in 1744, the Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market.


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


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


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


Baltic Exchange Says Talks Ongoing with Potential Buyers

Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in shipping will not be "undermined", the Baltic's chairman said on Wednesday.   On Feb. 26 the privately held Baltic Exchange confirmed it had received a number of "exploratory approaches" after the Singapore Exchange Ltd (SGX) said it was seeking to buy the business.  


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)


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


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


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


Baltic Index Down on Lower Demand for Larger Vessels

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


Asia Dry Bulk-Capesize Rates Could Climb

File image: a so-called ValeMax bulk carrier, typically used in the Brazil-China trades (Credit: Vale)

More coal cargoes, rising oil prices could support rates. Freight rates for large capesize dry cargo ships on key Asian routes are likely to rise next week on an increase in coal cargoes and higher fuel prices, ship brokers said. That comes as Brent crude futures breached the psychologically


Lower Large Dry Bulk Rates drag Baltic Index

File Image: A FedNav bulk vessel in the St. Lawrence Seaway (FedNav)

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


Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up five points


Baltic Index Flat, Rates for Bigger Vessels Rise

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, remained unchanged on Thursday, even as rates for capesize and panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises as Larger Vessels Lend Support

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


Baltic Index Rises on Stronger Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on stronger rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 2


Capesize Demand Pushes Baltic Index Up

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


Asia Dry Bulk-Capesize Rates May Dip

Rates from Western Australia to China fall from six-month high. Freight rates for large capesize dry cargo ships on key Asian routes could slide next week as charterers rein in their activity following a flurry of fixtures which pushed rates from Western Australia to China to a six-month high


Baltic Index Falls on Sluggish Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday hurt by an decline capesize vessel demand.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down eight points


Baltic Index Falls on Weaker Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday on weaker demand for larger vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down nine points


Phaethon Takes Diana Panamax on Timecharter

Pic: Diana Shipping

 Phaethon International has chartered a panamax bulk carrier Which is owned by the Greek shipping Diana Shipping on for up to eight months with a daily rate of US $ 5,250, according to the Baltic Exchange data.   Coronis (74,381 dwt


Baltic Index Declines on Weaker Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on sluggish demand for panamax vessels, partially offset by a rise in demand for the smaller vessel sizes.   The overall index, which factors in rates for capesize, panamax


Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points


Commodities Shipping Firms Struggle to Ride Out Worst Downturn

Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record as too many ships chase shrinking business.   A shortage of financing - estimated at $30 billion and caused in part by banks






 
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