• BIST 107.202
  • Altın 145,447
  • Dolar 3,5161
  • Euro 4,1312
  • İstanbul 27 °C
  • Ankara 22 °C

BE publishes port costs

BE publishes port costs
The Baltic Exchange is moving closer to complete transparency in its calculation of tanker freight rates with the publication of port costs.

The Baltic Exchange is moving closer to complete transparency in its calculation of tanker freight rates with the publication of port costs.

The Baltic Exchange is moving closer to complete transparency in its calculation of tanker freight rates with the publication of port costs.

From March 9, the Baltic Exchange will publish port costs used to calculate its daily tanker TCE assessments.

Based on data provided by port agents Cory Brothers Shipping, the service will cover 30 ports, said a press release.

The costs will be updated on the first working day of each month and the published rate will then be used in the calculation for the full month.

?The addition of this data will improve the transparency of the calculation and ensure that market participants can replicate the process with a high degree of accuracy,? said CEO Jeremy Penn.

The Baltic Exchange officially launched its daily TCE assessments for dirty tankers last May.

The service provides average dollar conversions for VLCCs, suezmaxes and aframaxes derived from a range of routes already reported on by the Baltic Exchange and expressed in Worldscale.

According to Barry Bedner, chairman of the Baltic Exchange's tanker freight market information group, ?financial markets are not accustomed to using the complex Worldscale system.

?Having independent benchmark dollar rates provided by the Baltic Exchange is a very welcome step which will help boost liquidity in the tanker FFA (forward freight agreement) market,? Bedner said.

The Baltic Exchange is the world's leading independent source of maritime market information for the trading and settlement of physical and derivative contracts.

www.TurkishMaritime.com.tr

This news is a total 569 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |