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Baltic Exchange to go live with Handysize Index

Baltic Exchange to go live with Handysize Index

London: Following a successful seven-month trial, the Baltic Exchange Handysize Index (BHSI) is to go live on January 2. It will be based on the assessments of 12 brokers, with two of the six routes being Asian based and together comprising 50% of the weighting.

The move follows the announcement earlier this month that the Baltic Exchange will in early 2007 open a Singapore office, its first overseas branch. This coincided with the inaugural meeting in Singapore of the new Asian Dry Freight Market Information Users Group, of which Keith Denholm of Pacific Carriers has been elected chairman. Setting up of the new group is intended to help the development of freight derivative trading in the Asia-Pacific region, and Baltic chief executive Jeremy Penn said the Exchange hoped to "develop new routes and reporting times specifically for the region."

The BHSI will be published every working day at 1300 (London) and based on the following:

28,000 mt dwt self trimming single deck bulkcarrier on 9.78m ssw 169m loa 27 m beam. 5 holds/5 hatches. 37,523 cum grain 35,762 cum bale 14 knots average laden/ballast on 22 mt ifo (380) no diesel at sea. 4 x 30 t cranes. Maximum age 15 years.

Route HS1: Dely Skaw - Passero for a trip about 35/45 days, redelivery Recalada - Rio de Janeiro range. 5%. Laycan 5/10 days in advance. Weighting 12.5%

Route HS2: Dely Skaw - Passero range for a trip about 35/45 days, redelivery Boston - Galveston range. 5%. Laycan 5/10 days in advance. Weighting 12.5%.

Route HS3: Dely Recalada - Rio de Janeiro for a trip about 35/45 days, redelivery Skaw - Passero range. 5%. Laycan 5/10 days in advance. Weighting 12.5%.

Route HS4: Dely US Gulf for a trip about 35/45 days, via US Gulf or NC South America, redelivery Skaw - Passero range. 5%. Laycan 5/10 days in advance. Weighting 12.5%.

Route HS5: Dely SE Asia for a trip via Australia, about 25/30 days, redelivery Singapore - Japan range including China. 5%. Laycan 5/10 days in advance. Weighting 25%.

Route HS6: Dely S Korea - Japan range for a trip via Nopac of about 40/45 days, redelivery Singapore-Japan range including China. 5%. Laycan 5/10 days in advance. Weighting 25%.  [21/12/06]

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