European Short Sea Index (EUSSIX) for Dry Bulk and Break Bulk
BMTI launched the publication of BMTI’s first official European Short Sea Index in the 21th Aug. 2017 Short Sea Report.
To meet the need for a comprehensive indicator of Europe’s short sea market, BMTI has developed the “European Short Sea Index” or in abbreviated form “EUSSIX”.
The EUSSIX index is generated by weighted inputs from BMTI’s three main sub-regional indices: Northern Europe, Mediterranean Sea and Black Sea-Azov. The EUSSIX, a directional index to be published on a weekly basis, is the result of the aggregated freight rates for dry bulk cargoes transported in Europe and adjacent regions with vessels between 1,000-20,000 dwt.
In contrast to deep sea and intercontinental maritime transport, short sea shipping is restricted to relatively short distances along the coast and ships in the size range that fall below the typical Handysize vessel description.
As such, the world recognized and referenced Baltic Dry Index cannot serve this sector of commercial shipping as a reliable economic indicator.
The European short sea market has long needed such an index for its own vibrant and volatile market. BMTI, with years of experience intensively observing, analysing and collecting data from the sector, has decided to meet this demand with our new market index, which will be published on a weekly basis.
In utilising it’s relationships with Europe’s short sea industry players, BMTI is in the process of expanding the freight input to strengthen the reach of the EUSSIX index.
Any additional short sea market players who would like to participate in contributing to this new short sea index are welcome to contact BMTI.
European Short Sea Index (EUSSIX)
Index is calculated on current data for dry bulk and break bulk