The Baltic Exchange Capesize Index (BCI) is a daily average calculated from the reports of an independent international board of panellists. These panellists are required to make a daily assessment on a basket of timecharter and voyage routes in the dry bulk shipping market representative of Capesize vessels.
Applicable weightings for the calculation of the Time Charter Average value are the following routes: C8_14 (25%), C9_14 (12.5%), C10_14 (25%), C14 (25%) and C16 (12.5%).
Currently the Baltic Capesize vessel for Time Charter Routes is a non-scrubber fitted vessel based on the following description:
– 180,000mt dwt on 18.2m ssw draft
– Max. age 10 yrs
– LOA 290m, beam 45m, TPC 121
– 198,000cbm grain
– 14 knots laden/15 knots ballast on 62mt fuel oil (380cst), no diesel at sea
– 12 knots laden/13 knots ballast on 43mt fuel oil (380cst), no diesel at sea
Route definitions:
Route C2:
Tubarao to Rotterdam. 160,000lt (long tons) iron ore, 10% more or less in owner’s option, free in and out. Laydays/cancelling 20/35 days from index date. 6 days, Sundays + holidays included all purposes. 6 hrs turn time at loading port, 6 hrs turn time at discharge port, 0.5% in lieu of weighing. Freight based on long tons. Age max. 18 yrs. 5% total commission.
Route C3:
Tubarao to Qingdao. 160,000mt or 170,000mt iron ore, 10% more or less in owner’s option, free in and out. Laydays/cancelling 20/35 days from index date. Scale load/30,000mt Sundays + holidays included discharge. 6 hrs turn time at loading port, 24 hrs turn time at discharge port. Age max. 18 yrs. 5% total commission.
Route C4:
Richards Bay to Rotterdam. 150,000mt coal, 10% more or less in owner’s option, free in and out, trimmed. Laydays/cancelling 25/40 days from index date. Scale load/25,000mt Sundays + holidays included discharge. 18 hrs turn time at loading port, 12 hrs turn time at discharge port. Age max. 15 yrs. 5% total commission. (This route was removed at the beginning of July 2020)
Route C5:
West Australia to Qingdao. 160,000mt or 170,000mt iron ore, 10% more or less in owner’s option, free in and out. Laydays/cancelling 10/20 days from index date. Scale load/30,000mt Sundays + holidays included discharge. 6 hrs turn time at loading port, 24 hrs turn time at discharge port. Age max. 18 yrs. 5% total commission.
Route C7:
Bolivar to Rotterdam. 150,000mt or 160,000mt coal, 10% more or less in owner’s option, free in and out, trimmed. Laydays/cancelling 20/35 days from index date. 50,000mt Sundays + holidays included load, 25,000mt Sundays + holidays included discharge. 12 hrs turn time at loading port, 12 hrs turn time at discharge port. Age max. 15 yrs. 5% total commission.
Route C8_14:
Delivery Gibraltar-Hamburg range, laydays/cancelling 3/10 days from index date, transatlantic round voyage, redelivery Gibraltar-Hamburg range, 180,000mt, duration 30-45 days. 5% total commission.
Route C9_14:
Delivery Amsterdam-Rotterdam-Antwerp range or passing Passero, laydays/cancelling 3/10 days from index date, redelivery China-Japan range, 180,000mt, duration about 65 days. 5% total commission.
Route C10_14:
Delivery China-Japan range, laydays/cancelling 3/10 days from index date, redelivery China-Japan range, 180,000mt, duration 30-40 days. 5% total commission.
Route C14:
Delivery Qingdao spot or retroactive up to a maximum 15 days after sailing from Qingdao, round voyage via Brazil, redelivery China-Japan range, 180,000mt, duration 80-90 days. 5% total commission.
Route C16:
Delivery North China-South Japan range, 3-10 days from index date for a trip via Australia or Indonesia or US West Coast or South Africa or Brazil, redelivery UK-Cont-Med within Skaw-Passero range, 180,000mt, duration to be adjusted to 65 days. 5% total commission.
Route C17:
Saldanha Bay to Qingdao. 170,000mt iron ore 10% more or less in owner’s option, free in and out trimmed. Laydays/cancelling 20/30 days from index date. 90,000 Sundays + holidays included load / 30,000 Sundays + holidays included discharge. 18 hrs turn time at loading port, 24 hrs turn time at discharge port. Max. age 18 yrs. 5% total commission. (This route does not contribute to the BCI).
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Continue reading…….
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After a period of trials in 2014, the below mentioned routes and vessel sizes have been replaced.
Route C2:
Tubarao/Rotterdam 160,000 long tons 10 per cent iron ore free in and out, 6 days Sundays holidays included, 6 hours turn time at loading port and 6 hours turn time at discharge port, 0.5% in lieu of weighing. Laydays 20 days forward from date of index, cancelling maximum 35 days forward from date of index. Vessel’s age max. 18 years. Freight based on long tons. 3.75 per cent total commission.
Nominal Weighting = 10%
Route C3:
Tubarao/Beilun and Baoshan, 150,000 mt 10 per cent iron ore free in and out, 18m salt water arrival draft, scale load/30,000 mt Sundays holidays included discharge. 6 hours turn time at loading port, 24 hours each discharge port. Laydays 20 days forward from date of index, cancelling maximum 35 days forward from date of index. Vessel’s age max. 18 years. Freight based on metric tonnes. 3.75 per cent total commission. Note: Panellists are currently reporting basis max. US$120,000 port disbursements in China for owner’s account.
Nominal Weighting = 15%
Route C4:
Richards Bay/Rotterdam, 150,000 mt 10 per cent coal free in and out and trimmed, scale load/25,000 mt Sundays holidays included discharge. 18 hours turn time at loading port and 12 hours at discharge port. Laydays 25 days forward from date of index, cancelling 40 days forward from date of index. Vessel’s age max. 15 years. Freight based on metric tonnes. 3.75 per cent total commission.
Nominal Weighting = 5 %
Route C5:
W Australia/Beilun-Baoshan, 150,000 mt 10 per cent iron ore free in and out, 18m salt water arrival draft, scale load/30,000 Sundays holidays included discharge, 6 hours turn time at loading port and 24 hours at each discharge port. Laydays 20 days forward from date of index, cancelling max. 35 days forward from date of index. Vessel’s age max. 18 years. Freight based on metric tonnes. 3.75 per cent total commission.
Nominal Weighting = 15%
Route C7:
Bolivar/Rotterdam 150,000 mt 10 pct coal free in and out trimmed, 50,000 mt Sundays holidays included loading/25,000 mt Sundays holidays included discharge, 12 hours turn time at loading port and 12 hours turn time at discharge port. Laydays 20 days forward from date of index, cancelling maximum 35 days forward from date of index. Vessel’s age maximum 15 years. 3.75 pct total commission.
Nominal Weighting = 5%
Route C8_03:
Delivery Gibraltar-Hamburg range, 5-15 days ahead of the index date, trans Atlantic round voyage duration 30-45 days, redelivery Gibraltar-Hamburg range. 3.75 per cent total commission. Based on a Baltic capesize of the following specifications: 172,000 mt dwt, not over 10 years of age, 190,000 cbm grain, max loa 289m, max beam 45 mtrs, draft 17.75 mtrs, 14.5 knots laden, 15.0 knots ballast on 56 mts fuel oil, no diesel at sea.
Nominal Weighting = 10%
Route C9_03:
Delivery Amsterdam-Rotterdam-Antwerp range or passing Passero, 5-15 days ahead of the index date, redelivery China-Japan range, duration about 65 days. 3.75 per cent total commission. Based on a Baltic capesize of the following specifications: 172,000 mt dwt, not over 10 years of age, 190,000 cbm grain, max loa 289m, max beam 45 mtrs, draft 17.75 mtrs, 14.5 knots laden, 15.0 knots ballast on 56 mts fuel oil, no diesel at sea.
Nominal Weighting = 5%
Route C10_03:
Delivery China-Japan range, 5-15 days ahead of the index date, round voyage duration 30-40 days, redelivery China-Japan range. 3.75 per cent total commission. Based on a Baltic capesize of the following specifications: 172,000 mt dwt, not over 10 years of age, 190,000 cbm grain, max loa 289m, max beam 45 mtrs, draft 17.75 mtrs, 14.5 knots laden, 15.0 knots ballast on 56 mts fuel oil, no diesel at sea.
Nominal Weighting = 20%
Route C11_03:
Delivery China-Japan range, 5-15 days ahead of the index date, redelivery Amsterdam-Rotterdam-Antwerp range or passing Passero, duration about 65 days. 3.75 per cent total commission. Based on a Baltic capesize of the following specifications: 172,000 mt dwt, not over 10 years of age, 190,000 cbm grain, max loa 289m, max beam 45 mtrs, draft 17.75 mtrs, 14.5 knots laden, 15.0 knots ballast on 56 mts fuel oil, no diesel at sea.
Nominal Weighting = 5%
Route C12:
Gladstone/Rotterdam 150000 mt 10 per cent coal free in and out and trimmed, 17m load draft, 45000 Sundays holidays included load/25000 Sundays holidays included discharge. 12 hour turn time bends. Laydays 25 days forward from date of index, cancelling max 40 days forward from date of index. Vessel’s age max 15 years. Freight based on metric tonnes. 3.75 per cent total commission.
Nominal Weighting = 10%
Route C1:
Not reported since 31/03/2004. 1 port Hampton Roads excluding Baltimore/Rotterdam 120,000 metric tonnes 10 per cent coal free in and out and trimmed, 6 days shinc, 12 hours turn time at loading port and 12 hours turn time at discharge port. Laydays 10 days forward from date of index, cancelling maximum 30 days forward from date of index. Vessel’s age max. 15 years. Freight based on metric tonnes 3.75 per cent total commission.
Weighting = 0%
Route C6:
Not reported since 31/03/2004. Newcastle/Rotterdam 120,000 mt 10 pct coal free in and out trimmed, 35,000 mt Sunday holidays included loading/25,000 mt Sundays holidays included discharge, 12 hours turn time at loading port and 12 hours turn time at discharge port. Laydays 25 days forward from date of index, cancelling maximum 40 days forward from date of index. Vessel’s age maximum 15 years. 3.75 pct total commission.
Weighting = 0%
Route C8:
Not reported since 24/12/2002. Delivery Gibraltar-Hamburg range, 5-15 days ahead of the index date, trans Atlantic round voyage duration 30-45 days, redelivery Gibraltar-Hamburg range. 3.75 per cent total commission. Based on a Baltic Capesize of the following specifications: 161,000 mt dwt, not over 10 years of age, 176,000 cbm grain, max. loa 280m, max. beam 45m, 14 knots laden, 14.5 knots ballast on 52 mts fuel oil, no diesel at sea.
Weighting = 0%
Route C9:
Not reported since 24/12/2002. Delivery ARA or passing Passero, 5-15 days ahead of the index date, redelivery China-Japan range, duration about 65 days. 3.75 per cent total commission. Based on a Baltic Capesize of the following specifications: 161,000 mt dwt, not over 10 years of age, 176,000 cbm grain, max. loa 280m, max. beam 45m, 14 knots laden, 14.5 knots ballast on 52 mts fuel oil, no diesel at sea.
Weighting = 0%
Route C10:
Not reported since 24/12/2002. Delivery China-Japan range, 5-15 days ahead of the index date, round voyage duration 30-40 days, redelivery China-Japan range. 3.75 per cent total commission. Based on a Baltic Capesize of the following specifications: 161,000 mt dwt, not over 10 years of age, 176,000 cbm grain, max. loa 280m, max. beam 45m, 14 knots laden, 14.5 knots ballast on 52 mts fuel oil, no diesel at sea.
Weighting = 0%
Route C11:
Not reported since 24/12/2002. Delivery China-Japan range, 5-15 days ahead of the index date, redelivery ARA or passing Passero, duration about 65 days. 3.75 per cent total commission. Based on a Baltic Capesize of the following specifications: 161,000 mt dwt, not over 10 years of age, 176,000 cbm grain, max. loa 280m, max. beam 45m, 14 knots laden, 14.5 knots ballast on 52 mts fuel oil, no diesel at sea.
Weighting = 0%
Details provided by the Baltic Exchange Information Services Ltd.
