The first LNG freight swap has been settled against the Baltic Exchange LNG spot assessments, as increasing market liquidity saw major LNG traders test the LNG freight derivatives trade.
The Baltic Dry Index (BDI) reached a five and half year high on Thursday at a reading of 1,816, up 2.19% on-day.
Singapore has remained the top international shipping centre for the sixth year running according to Xinhua and the Baltic Exchange annual index which sees no changes in the top eight centres from 2018.
Veteran shipbroker Denis Petropoulos has been elected as the new chairman of the Baltic Exchange Council.
Recent news of Dubai joining for the first time the top five international shipping centers comes in the midst of intensive efforts aimed at catapulting the local maritime industry into the ranks of the world’s best as per the directives of the UAE’s leadership.
The Baltic Exchange has started a public trial of its LNG shipping index.
Hong Kong has overtaken London to take the second spot in the International Shipping Centre Development Index (ISCD), while Dubai has moved into the top five for the first time.
The Baltic Exchange and digital container freight platform Freightos are launching a global container freight index.
The Baltic Exchange is dropping handysizes from its key dry bulk market index the BDI.