What is BULK INDICES & Routes?
What is Bulk Index?
They provide a way to monitor and compare the performance of vessels in different routes. The vessels are defined by their size, type and capacity which is why vessels are measured with the special Bulk Index. The vessels that sails on the route lose time loading/ unloading cargo to move from A to B.
Each vessel has its own average speed but it varies depending on the vessels’ tonnage and power “Bulk Time charter Averages”.
What is Bulk Routes ?
The vessels different size determine the time duration of their vessels routes. For example, vessels with a larger capacity will make fewer stops and get to their destination faster than vessels with a small cargo capacity.
A route that ships take is known as a trade route or voyage. The vessels that sail along the vessel’s trade routes are in fact vessels that have a goal to carry cargo.
What is Bulk Time charter Averages?
It’s an average calculation of vessels time charter rates in the route, which is used as a benchmark for vessels who want to work in this route. The vessel owner receive money when his ship perform a voyage in a certain route, so vessel’s rates depends on the vessels routes.
Since the vessels have international crew members and vessels rely on obtaining extra income by performing additional work in various regions, bulk time charter averages are usually determined from vessels that have been employed in the same category of vessel , in similar trade or route for at least three months.
How are BULK INDICES Calculated?
Bulk vessel’s index is calculated by taking into account vessels tonnage capacity and the vessels bulk time charter averages. Vessels receive money for performing a voyage in a certain route, so vessel’s rates depends on the vessels routes.
How are they used?
These indices are determined by vessels that have been employed in the same category of vessels, in similar trade or route for at least three months. They are most often used to compare vessels performance on the different routes around the world.
The BDI is very important as it reflects vessel’s spot prices (price vessels receive on the market to perform one voyage), so vessels’ owners., operators, charterers and planners know what vessels can earn on vessels routes.
It’s also used as a way to see the vessels demand in vessels routes throughout the world, since it generally reflects vessels rates.
The Baltic Dry Index “BDI” is a composite of the dry time-charter averages and provides a continuous time series since 1985.
- Baltic Capesize Index (40%)
- Baltic Panamax Index (30%)
- Baltic Supramax Index (30%)
Capesize vessels are large sized gearless dry bulk carriers. They typically range between 130,000 – 210,000 deadweight tonnage (DWT). Cargoes for Capesize vessels are limited to iron ore, coal and bauxite while port infrastructure requires ample draft and strength to hold the larger vessels. Capesize vessels have historically been restricted from passing through major canals due to their size, forcing the vessels to transit via the Cape of Good Hope or Cape Horn, hence the name “Capesize”.
- C2 – Tubarao to Rotterdam
2. C3 – Tubarao to Qingdao
3. C5 – West Australia to Qingdao
4. C7 – Bolivar to Rotterdam
5. C8_14 – Gibraltar/Hamburg transatlantic round voyage
6. C9_14 – Continent/Mediterranean trip China-Japan
7. C10_14 – China-Japan transpacific round voyage
8. C14 – China-Brazil round voyage
9. C16 – Revised backhaul
10. C17 – Saldanha Bay to Qingdao5TC Weighted bulk Time charter AverageBaltic Capesize 2014 vessel for bulk 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
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
Panamax & New Panamax (or Neopanamax) are terms for the size limits for ships travelling through the Panama Canal. A Panamax cargo ship would typically have a deadweight of 65,000–80,000 tonnes, although larger ships are built that fall under this definition. Typical cargoes include bulk commodities such as iron ore, coal and grains.
- P1A_82 – Panamax Skaw-Gib transatlantic round voyage
2. P2A_82 – Panamax Skaw-Gib trip to Taiwan-Japan
3. P3A_82 – Panamax Japan-S Korea Transpacific round voyage
4. P4_82 – Panamax Japan-S Korea trip to Skaw Passero
5. P5_82 – Panamax South China, Indonesian round voyage (BEP Asia)
6. P6_82 – Panamax Singapore round voyage via Atlantic
7. P7 – Panamax USG to Qingdao grain 66,000 MT
8. P8 – Panamax Santos to Qingdao grain 66,000 MT
9. P1A_03 – Panamax 74 Skaw-Gib transatlantic round voyage 74,000 MT
10. P2A_03 – Panamax 74 Skaw-Gib trip to Taiwan-Japan 74,000 MT
11. P3A_03 – Panamax 74 Japan-S Korea Transpacific round voyage 74,000 MTBaltic Panamax vessel for Time charter routes is a non-scrubber fitted vessel based on the following description:82,500mt dwt on 14.43m SSW draft
Max age 12 yrs
LOA 229m, beam 32.25m, TPC 70.5
97,000 cbm grain
13.5 knots laden on 33mt fuel oil (380cs t) / 14 knots ballast on 31mt fuel oil (380cs t) + 0.1 MGO at sea
11.5 knots laden on 22mt fuel oil (380cs t) / 12.5 knots ballast on 23mt fuel oil (380cs t) + 0.1 MGO at sea
Supramax are typically 52,000-60,000 tonnes deadweight – although larger vessels are built that are usually termed “Ultramax”. Supramax vessels have five cargo holds (which can carry different types of cargo) and have cranes fitted that makes them suitable for ports with limited infrastructure. They carry a wide range of dry bulk cargo including different types of ore, cement, phosphate, steel products, fertilizer and grain.
- S1B_58 – Canakkale trip via Med or Bl Sea to China-South Korea
2. S1C_58 – US Gulf trip to China-south Japan
3. S2_58 – North China one Australian or Pacific round voyage
4. S3_58 – North China trip to West Africa
5. S4A_58 – US Gulf trip to Skaw-Passero
6. S4B_58 – Skaw-Passero trip to US Gulf
7. S5_58 – West Africa trip via east coast South America to north China
8. S8_58 – South China trip via Indonesia to east coast India
9. S9_58 – West Africa trip via east coast South America to Skaw-Passero
10. S10_58 – South China trip via Indonesia to south China10TC Weighted bulk Time charter AverageBaltic Supramax vessel for Time charter routes is based on a non-scrubber fitted standard “Tess58 ” type vessel of the following description:58,328mt dwt on 12.80 m ssw
Max age 15 yrs
LOA 189.99m, beam 32.26m, TPC 57.5
72,360 cbm grain / 70,557 cbm bale
4 x 30t Cr + 12 cbm grabs
14 knots laden on 33mt fuel oil (380cst) / 14 knots ballast on 32mt fuel oil (380cst), no diesel at sea
12 knots laden on 24mt fuel oil (380cst) / 12.5 knots ballast on 23mt fuel oil (380cst), no diesel at sea
Handysize are smaller bulk carriers with a deadweight of upto 50,000 tonnes. Their small size allows them to enter smaller ports to pick up and discharge cargoes, and because in most cases they are ‘geared’ – i.e. fitted with cranes. Typical cargoes carried include steel products, grain, metal ores, phosphate, cement, logs, woodchips and other types of so-called ‘break bulk cargo’. They are numerically the most common size of bulk carrier.
- HS1_38 – Skaw-Passero trip to Rio de Janeiro-Recalada
2. HS2_38 – Skaw-Passero trip to Boston-Galveston
3. HS3_38 – Rio de Janeiro-Recalada trip to Skaw-Passero
4. HS4_38 – US Gulf trip via US Gulf or north coast South America to Skaw-Passero
5. HS5_38 – South East Asia trip to Singapore-Japan
6. HS6_38 – North China-South Korea-Japan trip to North China-South Korea-Japan
7. HS7_38 – North China-South Korea-Japan trip to south east Asia7TC Weighted bulk Time Charter AverageBaltic Handysize 38 vessel for Time charter routes is a non-scrubber fitted vessel based on the following description:Singledeck self trimming geared bulk carrier
38,200mt dwt on 10.538m SSW
Max Age 15 Years
LOA 180m / Beam 29.8m / TPC 49
47,125 cbm grain / 45,300 cbm bale
5 holds / 5 hatches
4 x 30 ton cranes
Speed & consumptions including main engine & auxibrary engines:
14 knots on 26mt IFO (380 CST) laden/24mt IFO (380 CST) ballast + 0.1 MDO at sea
12 knots on 18mt IFO (380 CST) laden/17mt IFO (380 CST) ballast + 0.1 MDO at sea
The Baltic Dry Index (BDI) is the successor to the Baltic Freight Index (BFI) and came into operation on 1 November 1999. Since 1 March 2018, the index is a weighted average of the Capesize 40pct, Panamax 30pct and Supramax 30pct bulk Time charter Averages which is then multiplied by a multiplier of 0.1.
Additionally the Baltic also publishes a Handysize index which is not included in the BDI calculation.