The Baltic Exchange has introduced new assessments for chemical and agricultural oil tankers to better serve the evolving needs of the maritime freight market and provide valuable data for these sectors, reports Baltic Exchange.
New Assessment Measures
The Baltic Exchange is introducing a new weekly assessment service: the Baltic Chemical and Agricultural Oil Assessments (BCAA). This initiative aims to cater to the growing demand within the market for more frequent and reliable freight data, enabling informed financial decisions for stakeholders including shipowners, charterers, brokers, and trading companies.
Building on its expertise in dry bulk, tanker, and gas freight markets, the Baltic Exchange now expands its coverage to encompass the chemical, vegetable/agri-oil, and biofuel sectors.
The BCAA will provide insights into key trade routes for “easy chemicals” such as benzene, biofuels, and caustic soda, as well as vegetable oils.
The assessments, priced in USD per metric ton for 5,000 mt or 10,000 mt shipments (and 40,000 mt for vegetable oils), will reflect the unique characteristics of chemical tanker operations, including the handling of diverse cargoes with specific stowage and handling requirements.
The trade routes covered by the BCAA include EC11, EC22, EC23, EC34, EC35, EC36, EC43, EC52, EC57, and PO45. Mark Jackson, CEO of Baltic Exchange, emphasized the complexity of chemical tanker operations, highlighting the need for a specialized reference price for these key trade lanes.
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Source: Baltic Exchange
