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Baltic Exchange applies changes to BDI


Following consultation with members, the Baltic Exchange will be implementing previously announced changes to the Baltic Dry Index (BDI).


From March 1, 2018, the BDI will be re-weighted to the following ratios of time charter assessments: 40 per cent Capesize, 30 per cent Panamax and 30 per cent Supramax, and will no longer include the Handysize time charter average.


External research concluded that the contribution of the various dry bulk vessel types to the dry bulk market was 40 per cent Capesize, 25 per cent Panamax, 25 per cent Supramax and 10 per cent Handysize. This analysis was based on the fleet composition, vessel utilisation, including ballasting and total cargo moved. Based on import/export reports and AIS data, the BDI weightings will be reviewed on an annual basis. The decision to not include Handysize contributions makes no statistical difference to the calculation of the BDI, based on the above weightings.


The Baltic Exchange will continue to report the Handysize vessel market and, in November, as part of the ongoing review of its indices, had launched a trial of a new Handysize Imabari 38 benchmark vessel and seven time charter routes, said a release.


Source : Exim News Service - Singapore, Feb. 11


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