The Baltic Supramax Index will be based on the following description:
Standard "Tess 52" type vessel with grabs as follows:
- 52,454 mt dwt self trimming single deck bulkcarrier on 12.02 m ssw
- 189.99 m LOA 32.26 m Beam 5ho/ha 67,756 cum.grain 65,600 cum.bale
- 14L /14.5B on 30mt (380 cst) no mdo at sea
- Cr 4 x 30 mt with 12 cum grabs
- Maximum age - 10 years
Route 1A
Delivery Antwerp/Skaw range for a trip of 60/65 days redelivery Singapore/Japan range including China 5 percent commission total. Laycan 5/10 days in advance.
Weighting 12.5%.
Route 1B
Delivery passing Canakkale for a trip of 50/55 days redelivery Singapore/Japan range including China 5 percent commission total. Laycan 5/10 days in advance.
Weighting 12.5%.
Route 2
Delivery South Korea/Japan range for 1 Australian or trans Pacific round voyage, for a 35/40 day trip, redelivery South Korea/Japan range 5 percent commission total. Laycan 5/10 days in advance.
Weighting 25%.
Route 3
Delivery South Korea/Japan range for a trip of 60/65 days redelivery Gibraltar/Skaw range 5 percent commission total. Laycan 5/10 days in advance.
Weighting 25%.
Route 4
Delivery Gibraltar/Skaw range for one trans-Atlantic round voyage of 45/50 days, redelivery Gibraltar/Skaw range, 5% commission. Laycan 5/10 days in advance.
Weighting 25%.
The Baltic will also be conducting a trial of the following two routes:
Trial Route 1
Delivery Dakar/Douala range for a trip via East Coast South America of 60/65 days, redelivery Singapore/Japan range, 5% commission. Laycan 5/10 days in advance.
Trial Route 2
Delivery South Korea/Japan range for a trip via Australia or 50/55 days, redelivery India, 5% commission. Laycan 5/10 days in advance.
If the trial routes are formally adopted it is not intended that they will contribute to the index and therefore will carry zero weighting.
To ensure the continuity of the data, the Baltic will report on both the BHMI and BSI from 3 September 2005 until 23 December 2005. It is intended that the BSI will be formally adopted and contribute to the Baltic Dry Index from 3 January 2006. It will be published both as a US dollar figure and an index figure to enable direct comparison with other Baltic dry market indices.
Commenting on the new index Baltic Exchange Chief Executive Jeremy Penn said:
“The current BHMI is based on assessments of a 45,000 mt ship, but the vessels in this sector have been increasing in size. Following an extensive consultation with principals, panellists and FFA traders headed by Baltic director Basil Mavroleon of Bray Shipping, I’m delighted that we will be publishing this new index. It’s vital that the Baltic responds to the users of its data and continues to publish information which is appropriate for today’s market circumstances.”
