Following a successful trial of dual reporting for a 58,000 dwt Supramax
Index since 31 July 2015 the Baltic will cease publishing the 52,000 dwt assessments from 3 April and contracts based on the 52,000 dwt suprmax will be settled based on a derived formula.
In the panamax sector dual reporting fro the Baltic Panamax Index will start on 24 April based on the larger 82,000 dwt TESS panamax.
The Baltic has also set out proposal to use a Imabari 38,200 dwt geared bulker for a new vessel benchmark to cover the handysize size sector.
The Baltic said the changes were designed to reflect changes in the dry bulk shipping fleet and cargo flows.
“These are important changes that are at various points in our ongoing development cycle. All the amendments have made following extensive consultations with the market,” said Mark Jackson, ceo of the Baltic Exchange.
“It is important to note that all these amendments are designed to reflect vessel fixtures and cargo flows as required by the International Organization of Securities Commissions (IOSCO). IOSCO requires financial and commodity Index providers to demonstrate through data that their indices are a true reflection of the underlying market.”
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