Ship brokers Affinity, Braemar ACM, Clarksons and SSY are the initial members of the panel and will be assessing a range of LNG routes before moving to trial reporting.
The Baltic Exchange noted the increase global LNG production and imports into India, China, Pakistan and Egypt were changing the pattern of LNG trades. There were an increased number of smaller and shorter contracts with no fixed destination.
“The growth in LNG transported by sea has led to the formation of a spot market. However, any spot market needs to be underpinned by standard contractual terms - as already happens in the tanker and dry bulk freight markets,” said Mark Jackson, ceo of the Baltic Exchange.
“The Baltic Exchange is looking to support the LNG freight market as it matures and we hope to deliver greater transparency through an index.”
Following its take over by the Singapore, the Baltic Exchange has been seeking to expand its business.