Changes To Baltic Exchange Tanker Routes

As of 1 July 2004, the Baltic Exchange will expand the range of its freight market information with the trial of two new tanker routes. The new routes will be based on the following descriptions:

• TC6: 30,000 mt CPP/UNL Algeria/Euromed Skikda/Lavera with laydays cancelling 7/14 days in advance. Max age: 15 years.
• TD12: 55000 mt ARA to US Gulf Fuel oil. Antwerp to Houston with laydays cancelling 15/20 days in advance. Double hulled vessels.

The two new route assessments will not contribute to the Baltic Clean Tanker and Baltic Dirty Tanker indices until fully tested.

The Baltic Exchange will also be withdrawing route TD2 (Middle East Gulf to Singapore) on 30 June 2005.

Explaining the reasons for the changes Baltic Exchange chief executive Jeremy Penn said:

“Following a consultation exercise headed by Baltic directors Dennis Petropoulos of Braemar Seascope and Michael Brown of Simpson Spence & Young, it was clear that the shipping community wanted to see these enhancements to our tanker information services. We constantly strive to ensure that Baltic assessments continue to be a reflection of the fast moving shipping markets.”