New Delhi, November 14, 2023 : Platts, part of S&P Global Commodity Insights, has launched the first new dry bulk composite index in more than three decades to be priced in dollars per day, reflecting the freight paid for hauling various commodities across 35 major routes where capesize, panamax, kamsarmax, ultramax and supramax ships ply. With the new Platts Dry Index, freight market participants and financial investors with exposure to daily changes in dry bulk shipping prices now have the option of trading a basket of routes incorporating all vessel segments.
The weighting for the individual indexes is determined by the volume of capesize, kamsarmax, ultramax and supramax vessel movements observed between the trading regions over the last three years from Platts’ trade flow system Commodities At Sea (CAS).
The Platts Dry Index is calculated in ton-miles and is arrived at by multiplying the volume of cargo moved in metric tons by distance traveled in miles.according to the reports published insplash247.com
Peter Norfolk, global head of freight pricing at S&P Global Commodity Insights, said, “Following the disruption of global trade flows caused by the Russia-Ukraine conflict and the re-mapping of supply chains due to the covid-19 pandemic, the freight market is in dire need of an index that reflects the current reality. In addition, dry bulk is the largest sector in the maritime industry that impacts almost every aspect of the economy.”
