TBA GroupTelestackViganThe Wolfson Centre for Bulk Solids Handling Technology Port of StocktonVan Aalst
  • Bühler GmbH
  • Vigan
  • The Wolfson Centre for Bulk Solids Handling Technology
  • TOC Events
  • Sailors Society
  • Port of Stockton

New Baltic index launched

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.

Latest News

ClassNK certifies NAPA Fleet Intelligence and Performance Monitoring and Optimization

(Posted on 25/05/22)

Leading Classification Society ClassNK has certified NAPA Fleet Intelligence and NAPA Performance Monitoring... Read more


Idwal report feature enables further insight for owners and financiers

(Posted on 25/05/22)

Idwal has announced that all inspection reports will now also include a data comparison feature that... Read more


IOMSR expands Greek fleet with four bulk carriers

(Posted on 18/05/22)

The Isle of Man Ship Registry is expanding its Greek fleet with an agreement to flag four bulk carriers... Read more


Women climbing the maritime career ladder, but more can be done

(Posted on 18/05/22)

Women are advancing up the Caribbean maritime career-ladder into senior positions – although more... Read more


ClassNK releases PrimeShip-HULL 2022 for new structural rules

(Posted on 12/05/22)

Leading classification society ClassNK has released its design support system “PrimeShip-HULL... Read more


International segments drive solid Algoma performance

(Posted on 05/05/22)

Algoma Central Corporation has reported its results for the three months ended March 31, 2022. Revenues... Read more


Report highlights INTERCARGO members’ commitment to quality

(Posted on 05/05/22)

The International Association of Dry Cargo Shipowners (INTERCARGO) has launched the thirteenth edition... Read more


ClassNK issues AiP for ammonia-ready LNG-fuelled bulk carrier

(Posted on 27/04/22)

Leading Classification Society ClassNK has issued an Approval in Principle (AiP) for the design of an... Read more


Inmarsat combats rising maritime cybercrime with fleet secure UTM

(Posted on 27/04/22)

Inmarsat, the world leader in global, mobile satellite communications, has launched Fleet Secure Unified... Read more


Bulk shipping offering between UAE and Bangladesh

(Posted on 20/04/22)

AD Ports Group has announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation... Read more


Sailors SocietyCleveland Cascades LtdPort of South LouisianaMultimodal 2022CimbriaBühler GmbH
  • Telestack
  • Multimodal 2022

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping