Reflecting the huge influence Chinese demand has on the capesize market the new routes C14, C15 and C16 focus on China iron ore and coal trades.
The C14 route is a round voyage from Qinqdao via Brazil with redelivery in China – Japan. The C15 route is 150,000 tonnes of coal shipped from Richard’s Bay to Quangzhou. The C16 route has elivery north China-south Japan range, for a trip via Australia or Indonesia or US west coast or South Africa or Brazil, redelivery UK-Cont-Med within Skaw-Passero range.
“Principals with substantial interest in route C16 have agreed to provide detailed fixture information on a regular basis to assist with the reporting of the route. This data will be held confidentially by the Baltic,” the Baltic said.
The C14 China – Brazil round voyage will have a 25% weighting, while C16 will have 12.5% rating.
“These are significant alterations which will impact traders, owners and charterers and are designed to reflect the realities of a changed dry bulk marketplace,” said Jeremy Penn, chief executive of the Baltic. “We have received a large number of written comments, held open meetings with members and stakeholders in Singapore and Geneva as well as held face to face meetings with key market participants.”
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