Capesize Bunker Consumption: Baltic Exchange Issues Brokers Guidance

Press Release
Thursday, June 13, 2013
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.

The Baltic Exchanges' statement reads: When considering the prevailing timecharter market rate for the Baltic defined capesize vessel, panellists should assume that if steaming at 12kts laden/13kts ballast, the vessel will consume 44 tonnes per day (NDAS).

The Baltic Exchange is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 600 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic.


 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

TESSCO Installs Chesapeake Bay Police Boat Video System

Leading networking company, TESSCO Technologies Incorporated, informs it has worked closely with the Maryland Department of Natural Resources (DNR) to successfully implement,

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Gazprom Supplying Gas to Europe as Contracted

Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated

Bulk Carrier Trends

Second Sailing Added to Cleveland-Europe Express

The Port of Cleveland and Amsterdam-based Spliethoff Group announced today their mutual intent to add a second monthly vessel to the Cleveland-Europe Express (CEE),

Ferus Smit Building LNG Powered Cement Carrier

The first unique LNG powered ship that Ferus Smit has on order for Erik Thun A.B. will be built and equipped as a dedicated cement carrier. The ship will be delivered to the joint venture JT cement,

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.

Finance

Leading Shipping Equity Analyst Joins Clarkson Capital Markets

Clarkson Capital Markets, the investment banking arm of shipping services group Clarkson PLC,  says it has enhanced its equity research coverage with the appointment

ST Engineering Injects Capital into Leeboy India

Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent

Nordic American Offshore on Track Says Chairman

Herbjørn Hansson, 
Executive Chairman
 of Nordic American Offshore Ltd., informs shareholders as follows after the company's listing on the New York Stock Exchange

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1851 sec (5 req/sec)