Baltic Panamax Index (BPI)

The Baltic Exchange Panamax Index (BPI) is a daily average calculated from the reports of an independant 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 Panamax vessels.

Route 1:
1-2 safe berths/anchorages Mississippi River not above Baton Rouge/Antwerp, Rotterdam, Amsterdam 55,000 long tons 10 per cent light grain stowing 55 ft, free in and out. 10 days Saturdays, Sundays holidays excepted, laydays 5 days forward from date of index, cancelling maximum 20 days forward from date of index. 3.75 per cent total commission.
Nominal Weighting = 10%

Route 1A:
Basis a Baltic Panamax 70,000 mt dwt not aged over 15 years with 3.0 million cuft grain, LOA maximum 230m and capable of about 14 knots laden on 30 fuel oil and no diesel at sea for a trans Atlantic (including ECSA) round of 45/60 days on the basis of delivery and redelivery Skaw-Gibraltar range. Loading 15-20 days ahead in the loading area. Cargo basis grain, ore, coal, or similar. 3.75 per cent total commission.
Nominal Weighting = 20%

Route 2:
1-2 safe berths/anchorages Mississippi River not above Baton Rouge/1 no combo port South Japan 54,000 long tons 5 per cent heavy soya sorghum free in and out, 11 days Saturdays, Sundays holidays excepted. Laydays 15 days forward from date of index, cancelling maximum 25 days forward of index. 3.75 per cent total commission.
Nominal Weighting =12.5%

Route 2A:
Basis a Baltic Panamax 70,000 mt dwt not aged over 15 years with 3.0 million cuft grain, LOA maximum 230m and capable of about 14 knots laden on 30 fuel oil and no diesel at sea, basis delivery Skaw-Gibraltar range, for a trip via US Gulf to the Far East, redelivery Taiwan-Japan range, duration 50/60 days. Loading 15-20 days ahead in the loading area. Cargo basis grain, ore, coal, or similar. 3.75 per cent total commission.
Nominal Weighting = 12.5%

Route 3:
1 port US North Pacific/1 no combo port South Japan 54,000 long tons 5 per cent heavy soya sorghum free in and out, 11 days Saturdays, Sundays holidays excepted. Laydays 15 days forward from date of index, cancelling maximum 25 days forward from date of index. 3.75 per cent total commission.
Nominal Weighting = 10%

Route 3A:
Basis a Baltic Panamax 70,000 mt dwt not aged over 15 years with 3.0 million cuft grain, LOA maximum 230 m and capable of about 14 knots laden on 30 fuel oil and no diesel at sea, for a trans Pacific round of 35/50 days either via Australia or Pacific (but not including short rounds such as Vostochny/Japan), delivery and redelivery Japan/South Korea range. Loading 15-20 days ahead in the loading area. Cargo basis grain, ore, coal, or similar. 3.75 per cent total commission.
Nominal Weighting = 20%

Route 4:
Basis a Baltic Panamax 70,000 mt dwt not aged over 15 years with 3.0 million cuft grain, LOA maximum 230 m and capable of about 14 knots laden on 30 fuel oil and no diesel at sea, delivery Japan-South Korea range for a trip via US West Coast-British Columbia range, redelivery Skaw-Gibraltar range, duration 50/60 days. Loading 15/20 days ahead in the loading area. Cargo basis grain, petroleum coke or similar. 3.75 per cent total commission.
Nominal Weighting = 15%

 

Details provided by the Baltic Exchange Information Services Ltd.

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