Port of South LouisianaVan AalstTOC EventsTBA GroupCoaltrans Asia 2021Cimbria
  • Coaltrans Asia 2021
  • Sailors Society
  • Port of Stockton
  • TBA Group
  • Bühler GmbH
  • Cleveland Cascades Ltd

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

Piracy at lowest level in decades, but IMB cautions against complacency

(Posted on 16/10/21)

The ICC International Maritime Bureau (IMB) has reported the lowest number of reported piracy and armed... Read more


IMO Secretary-General opens WISTA International Conference in Hamburg

(Posted on 16/10/21)

WISTA International began their two-day conference in Hamburg on Thursday day (14 October) with discussions... Read more


Norden capitalises on rising dry cargo asset values

(Posted on 13/10/21)

NORDEN’s Asset Management division, which handles buying, selling and leasing of dry cargo and... Read more


Dualog Drive data integrates with Microsoft SharePoint

(Posted on 13/10/21)

Leading maritime software provider Dualog is delighted to announce a further leap towards the integrated... Read more


Cadets miss out on sea time due to pandemic restrictions

(Posted on 11/10/21)

Restrictions on crew change and repatriations are impacting cadets at a time when the shipping industry... Read more


Covid drives demand for crew-change specialists

(Posted on 11/10/21)

Crew change specialists are in big demand from shipping companies struggling to get seafarers on or... Read more


World owes debt of gratitude to Ship Masters says Danica

(Posted on 04/10/21)

As the international maritime community celebrated World Maritime Day last week and considerd how seafarers... Read more


Promote diversity to attract fresh talent to shipping

(Posted on 04/10/21)

Promoting diversity in shipping will help make the industry more appealing to young adults and adolescents... Read more


ESL subsidiary orders six hybrid vessels

(Posted on 29/09/21)

ESL Shipping’s Swedish subsidiary AtoB@C Shipping AB has ordered a series of six new, highly energy... Read more


InterManager President calls for ‘one voice’ for shipping

(Posted on 29/09/21)

Shipping needs “one voice” to represent it globally and enable the maritime community to... Read more


Port of StocktonCleveland Cascades LtdBühler GmbHTelestackTMS Awards 2021The Wolfson Centre for Bulk Solids Handling Technology
  • TOC Events
  • Port of South Louisiana
  • Telestack

Subscribe to our newsletter

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