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
Posidonia 2026 takes centre stage amid global freedom of navigation challenges
(Posted on 29/05/26)From insurance and risk management to energy transition, digitalisation and maritime security, the Posidonia... Read more
First maritime compliance & prevention-focused organisation, PaS, joins DBCE
(Posted on 29/05/26)Prevention at Sea (PaS), a leading maritime compliance, auditing, and digital solutions provider, has... Read more
NorthStandard reports strong results and strategic momentum
(Posted on 29/05/26)NorthStandard has reported strong financial results, continued strategic progress and enhanced support... Read more
Latest guidance for vessel transit through Strait of Hormuz
(Posted on 25/05/26)Hundreds of vessels remain unable to transit the Strait of Hormuz and, in the event of a return to more... Read more
The Bahamas regains QUALSHIP 21 eligibility
(Posted on 25/05/26)The Bahamas has regained eligibility for the United States Coast Guard’s QUALSHIP 21 programme... Read more
First dedicated STS standard for dry bulk released by INTERCARGO
(Posted on 22/05/26)Ship to ship (STS) transfers are an established part of dry bulk operations, and they are growing. As... Read more
Columbia reinforces commitment to maritime talent
(Posted on 22/05/26)Columbia Group has strengthened its commitment to developing the next generation of maritime professionals... Read more
Jamaica marks 50 years at IMO with call for island states to shape future
(Posted on 22/05/26)The Maritime Authority of Jamaica has marked Jamaica’s 50th anniversary as a member of the International... Read more
Costamare Bulkers logs first profit after Cargill deal removes most legacy trading
(Posted on 14/05/26)Costamare Bulkers Holdings Limited has reported unaudited financial results for the first quarter ended... Read more
NORDEN strengthens fleet with the addition of four Handysize vessels
(Posted on 13/05/26)NORDEN have announced that they have expanded their fleet with the purchase of four dry cargo Handysize... Read more
