European Short Sea Index (EUSSIX) for Dry Bulk and Break Bulk
BMTI is pleased to announce the first official publication of the European Short Sea Index in the BMTI Short Sea Report of 23 August 2017. 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 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 freights for dry bulk cargoes transported in Europe and adjacent regions with ships 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 this new index, to be published on a weekly basis. In utilising relationships with Europe’s short sea industry players, BMTI is in the process of expanding our freight inputs to strengthen the reach of the EUSSIX. Any additional short sea market players who would like to participate in contributing to this new short sea index are welcome to contact BMTI.
Index calculation is based on current data for dry bulk and break bulk freight rates in the European short sea market.