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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.


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 Names Jackson as CEO

Mark Jackson (Photo: Baltic Exchange)

Baltic Exchange on Monday named Mark Jackson, a former Chairman and Director, to replace Chief Executive Officer Jeremy Penn.   Baltic Exchange shareholders earlier approved an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal that will give SGX access to the multi-billion-dollar freight derivatives market.   Jackson, Chief Commercial Officer of AM Nomikos Group, is expected to take up his appointment early in 2017


SGX sees Baltic buy boosting Asian freight derivatives

file image (Credit: BSM)

Singapore Exchange Ltd (SGX) sees the potential to develop new freight derivatives centred on active Asian shipping routes and expand the use of freight derivatives with its acquisition of London's Baltic Exchange, a senior SGX official told Reuters. "We believe there are a number of opportunities that the Baltic Exchange and SGX can realise together, including the creation and adoption of new benchmarks of Asian shipping routes," Michael Syn


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)


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


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 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.  


Baltic Index Down on Weaker Rates

File Image: CREDIT FedNav

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for panamaxes and smaller vessels, even as rates for capesizes rose.   The overall index, which factors in rates for capesize, panamax


Baltic Exchange Chief Outlines Growth Plan

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the


Baltic Index Down for Eighth Straight Session

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for an eight straight session on Thursday as rates for panamaxes and smaller vessels slipped, even as capesize rates strengthened.  


Lower Rates for Bigger Vessels Drag Baltic Index Down

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the ninth consecutive session on Friday, weighed down by lower rates for larger vessel segments. The overall index — which factors in rates for capesize, panamax


Baltic Index Snaps 6-session Losing Streak

File Image: Credit BSM

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities snapped a six-session losing streak and rose on Friday due to stronger rates for smaller vessels, even as capesize demand fell.   The overall index, which factors in rates for capesize


Baltic Index Gains on Firmer Panamax Rates

© Eugene Sergeev / Adobe Stock

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


Baltic Index Strengthens on Broad Support

file Image (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 31 points


Baltic Index Rises as Panamax Rates Hits High

© fresh_water / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday as panamax rates surged to their highest in over three years and capesize activity firmed up. The overall index, which factors in rates for capesize, panamax


Smaller Bulkers Buoy Baltic Index

File Image: a smaller, modern bulk vessel underway (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by stronger rates for smaller vessel segments even as capesize rates weakened.   The overall index, which factors in rates for capesize, panamax


Weaker Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0


Baltic Index Down as Capesize Rates Sag

File Image (CREDIT: AdobeStock / (c) lidian neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1


Falling Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand.   The overall index, which factors in rates for capesize, panamax


Baltic Index Falls to Weakest Since Mid-December

© norinut / Adobe Stock

The Baltic Exchange's main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent.


Baltic Index Down on Weaker Capesize Rates

File Image (CREDIT: AdobeStock) / (c) n neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday on weaker rates for large vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 25 points, or 2


Baltic Index Down For Sixth Straight Session

© Hellen Sergeyeva / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth consecutive session on Tuesday on lower rates for larger vessel segments. The overall index, which factors in rates for capesize, panamax






 
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