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The big news for ocean shipping freight rates this week is demand out of the oil-producing nations of West Africa, which is pushing up rates for the second-largest category of crude oil tanker.
The rates that tankers can charge has risen, with a fee of $10.5m to transport 700,000b of crude, sold below the price cap, from the Baltic to India in January, compared to a fee a year earlier of $1m. [96] In March VLCC tanker rates were on average 108% higher than March 2022, Suezmax rates were up 56% and Aframax up 40% on 2022. [49]
Baltic Dry Index 1985 - 2022. The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange. The BDI is a composite of the Capesize, Panamax and Supramax timecharter averages. It is reported around the world as a proxy for dry bulk shipping stocks as well as a general shipping market bellwether.
The Baltic Exchange's main sea freight index gained on Thursday as rates rose across all vessel segments. * The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, was ...
"Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the Suez Canal in a laden condition, and is almost exclusively used in reference to tankers. The limiting factors are beam , draft , height (because of the Suez Canal Bridge ), and length [ 1 ] (even though the canal has no locks ).
The Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
COPENHAGEN (Reuters) -Denmark is considering ways to stop a so-called shadow fleet of tankers from carrying Russian oil through the Baltic Sea, the Nordic country said on Monday, triggering a ...
The Baltic Exchange (incorporated as The Baltic Exchange Limited [1]) is a membership organisation for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts. Situated since Edwardian times at 24-28 St Mary Axe, London EC3, the building was destroyed by a bomb in 1992.