Port of South LouisianaTelestackCimbriaPort of StocktonViganTBA Group
  • The Wolfson Centre for Bulk Solids Handling Technology
  • TOC Events
  • Port of South Louisiana
  • Cimbria
  • Vigan
  • TBA Group

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

Fully digital LNG bunkering comes to Singapore

(Posted on 06/10/22)

Pavilion Energy and DNV have jointly developed a fit-for-purpose LNG bunker digital solution for employment... Read more


ShipMoney extends crew payment solutions to entire BSM fleet

(Posted on 06/10/22)

ShipMoney has expanded its agreement with Bernhard Schulte Shipmanagement (BSM) to include the ship... Read more


SAFEEN strategic agreement to own and operate five bulkers

(Posted on 01/10/22)

SAFEEN Feeders has signed a major agreement with Invictus Investment to launch a new international dry... Read more


World Maritime Day message must extend beyond shipping

(Posted on 01/10/22)

Never has the theme of this year’s World Maritime Day - ‘New technologies for greener shipping... Read more


ClassNK issues AiP for ammonia bunkering vessel

(Posted on 01/10/22)

ClassNK has issued an Approval in Principle (AiP) for an ammonia bunkering vessel (ABV) developed by... Read more


IOMSR strikes four ship deal with MX Bulk

(Posted on 28/09/22)

The Isle of Man Ship Registry (IOMSR) is expanding its fleet after securing a new deal with fellow Isle... Read more


DNV and SIT to promote decarbonization and digitalization

(Posted on 25/09/22)

DNV has signed a Memorandum of Understanding (MOU) with the Singapore Institute of Technology (SIT)... Read more


Fleet pledge to reduce environmental footprint of plastic bottles

(Posted on 25/09/22)

Fleet Management Limited, part of the Caravel Group and the second-largest ship management company in... Read more


Idwal appoints Haysom new CCO as expansion continues

(Posted on 15/09/22)

Idwal has announced that George Haysom has joined the business as chief commercial officer (CCO) to... Read more


Britannia hosts P&I academy for members in London

(Posted on 15/09/22)

Previously known as Members’ Training Week, the Britannia P&I Academy provides a week-long... Read more


Sailors SocietyVan AalstTOC EventsBühler GmbHCleveland Cascades LtdThe Wolfson Centre for Bulk Solids Handling Technology
  • Port of Stockton
  • Bühler GmbH
  • Cleveland Cascades Ltd

Subscribe to our newsletter

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