- About us
- IBJ Awards
- Free Sample
- Contact us
New Baltic index launched
(Posted on 18/09/19)
The Baltic Exchange has launched a new assessment to track the cost of operating vessels. Initially covering a range of dry bulk vessels, the service will also be expanded to tankers and other sectors.
The Baltic Operating Expense Index (BOI) will be published quarterly and based on assessments from three leading independent third-party ship management companies: Anglo-Eastern, Columbia Shipmanagement and Fleet Management. Collectively they manage a fleet of over 1,800 vessels. Additional companies are expected to join the panel in the future and a residual price calculation added later this year.
Baltic Exchange Chief Executive Mark Jackson said:
“The Baltic Operating Expense Index is intended to provide transparency to the fluctuations in running costs. Daily operating costs are one of the variables used by shipping investors to calculate the profitability and residual value of their assets. We already provide independent freight, sale & purchase and recycling assessments. With the addition of operational expenses assessments, shipping investors now have a complete toolkit to manage their risk and aide their decision process.”
Each panel member will submit four numbers, expressed in USD per day. Three will be combined to produce the BOI:
- Crew (USD per day, including all fees)
- Technical ((USD per day, including all fees)
- Insurance (USD per day, including all fees and rebates)
The fourth, an assessment of a five year Drydock cost, will be amortised over five years to give a USD/day price, but published separately and will not contribute to BOI.
Assessments will be provided quarterly. Q4 2018 and Q1 and Q2 2019 assessments are available following a recent trial. Q3 2019 assessments will be published on 17 October.
The assessments will be available on www.balticexchange.com to subscribers to Baltic Exchange market information services.
The vessels initially assessed are:
Capesize: 180,000 mt dwt built in “first class competitive yard”, 199,000cbm grain, LOA 290m, beam 45m, draft 18.2m SSW. Not ice classed, not scrubber fitted, 5 years old & special survey passed.
Panamax: 82,500 mt dwt built in “first class competitive yard”, 97,000cbm grain, LOA 229m, draft 14.43m. Not ice classed, not scrubber fitted, 5 years old & special survey passed.
Supramax: 58,328 mt dwt on 12.80m draft SSW built in “first class competitive yard”. LOA 189.99m, Beam 32.26m, 72,360 cbm grain, 5 holds/hatches, 4 x 30mt cranes with 4 x 12cbm grabs. Not ice classed, not scrubber fitted, 5 years old & special survey passed.
Handysize: 38,200mt dwt at draft 10.538m SSW, built in “first class competitive yard”, 47,125cbm grain, LOA 180m, beam 29.8m, 5 holds, 5 hatches, 4 x 30mt cranes. Not ice classed, not scrubber fitted, 5 years old & special survey passed.
Global resources company BHP, German shipping company Oldendorff Carriers, and advanced biofuels pioneer... Read more
The Swedish Club has partnered with industry leading cargo consultants, CWA International, to develop... Read more
Criminal gangs are increasingly exploiting merchant shipping to traffic large volumes of illicit drugs... Read more
As recent news reports highlight, the shipping industry continues to face threats such as piracy, kidnapping... Read more
Algoma Central Corporation, a leading supplier of marine transportation services, has announced that... Read more
Wavespec, as the last technical entity within Braemar Shipping Services Plc, has announced that it is... Read more
INTERCARGO believes that, once again seafarers are falling victim to the lack of focus and joined up... Read more
As efforts to refloat the Ever Given continue, the International Chamber of Shipping (ICS) has released... Read more
GTMaritime has announced that it has transitioned its business to an Employee Owned Trust (EOT), in... Read more
Leading classification society ClassNK has begun joint investigative research with Sompo Japan Insurance... Read more